UniCredit Said to Grow Generali Stake to Shape Potential Deals
The Allianz, Generali and Libeskind, left to right, skyscrapers seen from the UniCredit SpA headquarters in Milan.
Photographer: Francesca Volpi/BloombergUniCredit SpA’s decision to expand its stake in Assicurazioni Generali SpA is meant to support its commercial ties and strengthen the bank’s hand in any potential deals involving the insurer pursued by other players, according to people familiar with the matter.
The move underpins ongoing discussions over broader commercial agreements between UniCredit Chief Executive Officer Andrea Orcel and his Generali counterpart, Philippe Donnet, the people said asking to not be identified discussing confidential information.