GROUPAMA TO TAKE 17% STAKE IN PREMAFIN

France's Groupama has agreed to buy a 17% stake in Premafin Finanziaria, the controlling shareholder of Italian insurer Fondiaria-SAI. Premafin is raising €227.5m ($318m) through the issue. Groupama's total investment will be €145.7m. The Ligresti family, which controls Premafin, will have a 34% stake after the change in ownership structure. Premafin said that Groupama had agreed not to bid for control of Premafin, Fondiaria-SAI or its insurance unit Milano Assicurazioni. Premafin's shares rose by nearly 10% when they resumed trading, giving it a market value of €445.2m.