Wednesday, 12 March 2014

Agnelli family said to be in talks to buy 20pc of Swiss Re

I think I might have landed another genuine scoop. Here it is:

I understand a trust controlled by Italy's Agnelli family has been holding talks with Swiss Re about buying a 20pc stake in the insurance giant worth up to 8bn Swiss Francs.

According to sources familiar with the matter, the Agnelli family trust is planning to buy the 20pc stake in Swiss Re by making a 'tender offer' to all shareholders with an agreement from the Swiss Re board.

The tender offer for the shareholding in Swiss Re could be announced as early as this Monday, said my sources.

The Agnelli family - whose members own stakes in Juventus Football Club and some of Italy's largest companies, such as Fiat - has been in talks with Swiss Re about the deal for the last three months, according to my well-placed sources.

I have been told the Agnelli family trust is willing to offer to between 95 Swiss Francs and 100 Swiss Francs a share for the 20pc stake in Swiss Re.

If the deal is successful, the Agnelli family trust is likely to get some seats on the Swiss Re board.

The Agnelli family's interest in acquiring a stake in Swiss Re follows Warren Buffett's successful investment in the European reinsurance market.

The legendary American investor started building a significant stake in Munich Re, Swiss Re's biggest rival, in 2010 and by 2012 Mr Buffett had increased his shareholding to 11pc.

Mr Buffett is thought to have generated a decent return on his investment as Munich Re shares have risen significantly over the last four years.

Betaville readers need to be aware that yesterday evening I contacted Swiss Re and one of the Agnelli family investment vehicles, Exor, but have not yet had a response from either party to my story. So please read this story in that context.

Also, Betaville readers should understand that Swiss Re is not governed by the UK Takeover Panel rules as it is a Swiss company.

I know this a statement of the blindingly obvious but I am just making the point as some readers may expect a formal confirmation following the publication of this article. That, though, may not necessarily happen given Swiss Re operates in a different regulatory environment.


Both Swiss Re and Exor, one of the Agnelli's vehicles, have gone on the record to formally deny they are in talks about the 20pc stake deal.

Here is the link to statement from Swiss Re: Exor's spokesperson also eventually responded to my request for comment from last night to deny the talks.

Egg on face for me, I guess.

Or, perhaps I should take take it is a compliment that one-man blog run by a freelance (another word for unemployed) business journalist has managed to tease out denial statements from a Swiss company with a SWF 30bn market cap and one of Italy's richest families.  

Still, I am genuinely surprised by the denials as the sourcing is really very good. And those market watchers who have followed my work closely over the last decade know that I rarely get these type of stories wrong.

So, what's happened here? I am going to find out and update loyal Betaville readers in due course. The update may not come tomorrow but it should come in the next few weeks.  


    Work from home theory is fast gaining popularity because of the freedom and flexibility that comes with it. Since one is not bound by fixed working hours, they can schedule their work at the time when they feel most productive and convenient to them. Women & Men benefit a lot from this concept of work since they can balance their home and work perfectly. People mostly find that in this situation, their productivity is higher and stress levels lower. Those who like isolation and a tranquil work environment also tend to prefer this way of working. Today, with the kind of communication networks available, millions of people worldwide are considering this option.

    Women & Men who want to be independent but cannot afford to leave their responsibilities at home aside will benefit a lot from this concept of work. It makes it easier to maintain a healthy balance between home and work. The family doesn't get neglected and you can get your work done too. You can thus effectively juggle home responsibilities with your career. Working from home is definitely a viable option but it also needs a lot of hard work and discipline. You have to make a time schedule for yourself and stick to it. There will be a time frame of course for any job you take up and you have to fulfill that project within that time frame.

    There are many things that can be done working from home. A few of them is listed below that will give you a general idea about the benefits of this concept.

    This is the most common and highly preferred job that Women & Men like doing. Since in today's competitive world both the parents have to work they need a secure place to leave behind their children who will take care of them and parents can also relax without being worried all the time. In this job you don't require any degree or qualifications. You only have to know how to take care of children. Parents are happy to pay handsome salary and you can also earn a lot without putting too much of an effort.

    For those who have a garden or an open space at your disposal and are also interested in gardening can go for this method of earning money. If given proper time and efforts nursery business can flourish very well and you will earn handsomely. But just as all jobs establishing it will be a bit difficult but the end results are outstanding.

    Freelance can be in different wings. Either you can be a freelance reporter or a freelance photographer. You can also do designing or be in the advertising field doing project on your own. Being independent and working independently will depend on your field of work and the availability of its worth in the market. If you like doing jewellery designing you can do that at home totally independently. You can also work on freelancing as a marketing executive working from home. Wanna know more, email us on and we will send you information on how you can actually work as a marketing freelancer.

    Internet related work
    This is a very vast field and here sky is the limit. All you need is a computer and Internet facility. Whatever field you are into work at home is perfect match in the software field. You can match your time according to your convenience and complete whatever projects you get. To learn more about how to work from home, contact us today on workfromhome.otr@gmail.comand our team will get you started on some excellent work from home projects.

    Diet food
    Since now a days Women & Men are more conscious of the food that they eat hence they prefer to have homemade low cal food and if you can start supplying low cal food to various offices then it will be a very good source of income and not too much of efforts. You can hire a few ladies who will help you out and this can be a good business.

    Thus think over this concept and go ahead.

  2. Hello, my name is William Bill a Business Contractor' I live in Washington District of Columbia. I was been awarded a contract, but due to my lack of finance i could not meet up according to agreement made, after i try to get a loan! I was reject by many banks and other financial institute that i almost gave up all hope for the contract. I almost called the company to tell them that i won't be taken the contract anymore, only to be saved when i was thinking and searching one night through the internet I saw an advert about a loan company named First City Loan Home whom can give a loan for as low as 5% interest rate with no collateral or credit card needed. I applied for a loan in the company to my greatest surprise the CEO of the company approved my loan of $350,000 which i used to finally finance the contract. I said to myself i need to share this good news to the world so if you need any loan of any type with no collateral or credit card for as low as 5% interest rate I advice you to contact First City Loan Home at their email:

  3. Hello Everybody, My name is.Mrs.Juliet Quin. I live in Canada and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $ 73,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $ 73,000.00 Canada Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs.Juliet Quin that refer you to him. Contact Dr Purva Pius via email: reply to email (