The board of Yafa SpA asked Vittoria Assicurazioni SpA to grant to Vittoria Capital a loan of up to €300 million.
The request comes after the approval of the merger between Vittoria Assicurazioni and Vittoria Capital by their boards. Yafa is the parent company of Vittoria Assicurazioni.
The loan is expected to provide Vittoria Capital with the necessary resources to extinguish a loan from Banco BPM SpA to cover the financing of the recent public and exchange tender offer on Vittoria Assicurazioni shares. The loan is subject to the approval of the boards of Vittoria Assicurazioni and Vittoria Capital.