Generali CEO sees end-year free capital at around 3 bln eur |
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Published
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Wed, 31 Oct 2007 16:23
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MILAN (Thomson Financial) - Assicurazioni Generali SpA CEO Giovanni Perissinotto said that he expects the group to have free capital of around 3 bln eur by the end of the year.Speaking in a conference call with analysts on nine-month results, Perissinotto said Generali is not planning to increase its debt in the near future.'We won't be raising debt unless there is a transaction opportunity which at the moment is not on the table,' he said.Perissinotto said that the company is prepared to use its shares to fund any acquisition that might come along but added any such deal must be accretive.On Monday, Generali said that it had completed a share buyback programme, spending 1.499 bln eur to secure 4.526 pct of share capital.Asked about the group's embedded value which will be released at the end of the year, Generali management said that the increase in interest rates over the last year had been positive 'and will be reflected in the embedded value figures'.stephen.jewkes@thomson.comsj/hjp/sj/lhtCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Banca Generali 9-mth net profit 9.3 mln eur vs 6.5 mln UPDATE 