Generali exercises demerger option

The board of directors of Assicurazioni Generali has resolved to exercise the demerger option from Telco.

In compliance with the terms of the shareholders agreement, the board also gave mandate to the group chief executive officer to define the exact procedure to implement the exit.

The shareholders agreement will still bind Generali until the deadline of February 28, 2015 or, should the demerger be earlier finalised, until the process is completed.

Generali said the exit from Telco is in line with the group’s strategy, aimed at actively administrating its assets, and it will streamline the management of the investment itself.