The Generali / PPF transaction

(2008)

The details of the transaction

The Generali PPF Holding Joint Venture agreement was signed on 10 July 2007, whereby Assicurazioni Generali and PPF Group agreed to transfer their insurance assets in the CEE region to the new venture, establishing it as one of the major players in the region. The establishment of the joint venture company was completed in January 2008 with Generali and PPF Group equally represented on Generali PPF Holding’s Board of Directors. As a result of the transaction, PPF Group received EUR 1.1 billion in cash from Generali. The agreement has resulted in considerable operating cost savings thanks to the consolidation of regional platforms, significantly improved returns on investments, better pricing policy, and accelerated development in CEE.
Generali PPF Holding is managed from the Czech Republic and Petr Kellner has become a Board Member of Generali.