INA's property spin-off generates strong interest
Article Abstract:
Instituto Nazionale delle Assicurazioni SpA, a major insurance firm based in Italy, is setting up a new autonomous company named Unione Immobiliare SpA by spinning off its property portfolio valued at five trillion liras or $3.1 billion. Instituto Nazionale managing director Lino Benassi indicated that the company is the only one that manages a property portfolio with this kind of scope. Banca Akros analyst Andrea Crepaz observed that real estate becomes a safe investment during times of turbulence.
Comment:
Is a new company set up by Instituto Nazionale delle Assicurazioni SpA of Italy which spun off property portfolio
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Siena Bank turns corner with big IPO
Article Abstract:
Banca Monte dei Paschi di Siena SpA will sell off an approximately 25% share of itself in an initial public offering (IPO). The IPO is believed to have a value of approximately $2 billion. The shares will be sold off by a charitable foundation that controls Siena Bank. The IPO is expected to the largest ever in Italy and one of the largest equity offerings as far as European banks are concerned.
Comment:
To sell approximately 25% share of itself in initial public offering
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Telecom Italia Fails to Win Backing of Shareholders
Article Abstract:
Telecom Italia was unable to get its shareholders to vote on defensive measures against a hostile takeover by Olivetti SpA. The company's management could not get a 30% quorum necessary for a shareholder meeting. Telecom may now have to look to a foreign partner to help fend off Olivetti.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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