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Generali unit purchases stake in MPIB.

Global Banking News-May 8, 2015--Generali unit purchases stake in MPIB

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Global Banking News - 08 May 2015

Italy-based insurance provider, Generali (BIT.G), has said that its unit has purchased a stake in Malaysia-based MPIB.

The Italian company has completed the purchase of a 49 percent stake in Malaysia general insurer, Multi-Purpose Insurance, to enter its tenth Asian market. The insurer paid EUR81m for the stake and also has the option to increase its holding to 70 percent after two years, when a 21 percent call option may be exercised.

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Publication:Global Banking News (GBN)
Date:May 8, 2015
Words:118
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