Fondiaria-SAI SpA (FSA.MI) and its parent company Premafin
Finanziaria Holding di Partecipazioni SpA (PF.MI) said late Monday
they have restated and approved first-quarter results to take into
account the bankruptcy of Sinergia Holding di Partecipazioni SpA
and IMCO SpA.
In two separate filings, the companies said the approval of the
adjusted earnings results was necessary to carry on with capital
increases and their plan to merge with Unipol Gruppo Finanziario
SpA (UNI.MI).
Premafin reiterated it will continue with its plan to increase
its capital by up to EUR400 million to merge with Unipol. According
to Italian news agency ANSA, FonSAI has also approved a EUR1.1
billion capital increase in the pursuit of a complex four-way
merger plan with Unipol, Premafin and FonSAI's unit Milano
Assicurazioni.
In its filing, FonSAI said its board has also examined a new
offer put forward last week by Italian investments funds Palladio
Finanziaria SpA and Sator Capital Ltd. and decided to put off a
decision on it until its next meeting on Thursday.
Premafin said in its statement it will study the offer by the
two funds, but taking into account that such offer remains subject
to the failure of the Unipol deal.
In an attempt to frustrate an offer launched by Unipol, the two
funds had earlier this year already launched two previous offers on
FonSai's holding company Premafin, which have already expired.
Exchange Web Site: www.borsaitaliana.it
-Write to Enza Tedesco at enza.tedesco@dowjones.com
