Tuesday 14 April 2015

Quelle surprise: Agnellis launch multi-billion dollar insurance/reinsurance takeover deal

It would appear Exor - the Agnelli family trust - has bitten the bullet and moved on from buying a 20pc stake in Swiss Re.

Exor - controlled by chairman and CEO John Elkann - has just announced it is launching a $6.4 billion all cash takeover offer for US-listed insurance and reinsurance company PartnerRe, trumping a previous $11 billion merger with Axis Capital. Here is a link to the Exor press release:


For readers that don't recall, I revealed in March 2014 that Exor had been trying to buy a 20pc stake in Swiss Re. Here is a link: http://betaville123.blogspot.co.uk/2014/03/agnelli-family-said-to-be-in-talks-to.html

The story was extremely well sourced (and I believe accurate) but by publishing it I probably blew the whole deal up, allowing both companies to subsequently release vehement denials.

The denials also gave some bizarre Swiss media outfit called CASH the opportunity to write a piss poor hatchet job, riddled with factual inaccuracies, about me.

In case your interested in the CASH hatchet job, here is a link (if you don't read Swiss German, then put the text into Google translate): http://www.cash.ch/news/alle-news/wie_ein_blogger_die_schweizer_boerse_narrte-3182660-448

But loyal Betaville readers should be reassured that my Swiss Re story from last year was no "hoax" (as claimed by CASH) now that the Agnellis have finally made a move on a major insurance company.  

1 comment:

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