COLOGNE (dpa-AFX) - Generali (GDEUF.PK, GE1G) announced an agreement with Multi-Purpose Capital Holdings Berhad - a subsidiary of the Malaysian group headed by MPHB Capital - to acquire a 49% stake in its P&C insurance subsidiary, Multi-Purpose Insurans Berhad, for a consideration of 81.4 million euros. The agreement includes a call option exercisable in two years on an additional 21% stake of MPIB, which will enable the Group to increase its holding to 70% of the company's capital.
The Group CEO of Generali, Mario Greco, said: 'Our entry into the Malaysian market marks an important step for Generali's development in Asia, an important area for the Group's future growth and where we are already investing. Malaysia is a market which is significantly growing and offers great opportunities, especially in the P&C segment'.
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