Bloomberg News

Premafin Board Halts Talks With Sator on Rescue Plan, Sole Says

June 23, 2012

Premafin Finanziaria SpA (PF), the holding company controlling insurer Fondiaria-SAI, halted talks with investment funds Sator Capital Ltd. and Palladio Finanziaria SpA to rescue Fondiaria, Il Sole 24 Ore said.

Premafin’s board decided yesterday that there weren’t “sufficient elements to go ahead with talks,” Il Sole reported citing a board member it didn’t identify. Premafin will go ahead with the alternative rescue plan proposed by Unipol Gruppo Finanziario SpA (UNI), the daily said.

To contact the reporter on this story: Sonia Sirletti in Milan at ssirletti@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net#


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