Generali exacts price for co-operation

The deal between Generali of Italy and Commerzbank of Germany will result in strong benefits for Generali’s German group led by Aachener und Münchener Beteiligungsgesellschaft (AMB). Generali had agreed to double its stake in Commerzbank from around 5% to more than 10%, with Banco Santander Central Hispano of Spain undertaking a similar move. Both will obtain their stakes through a share issue limited to the two buyers.