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Groupama launches sale of its 4.9 pct Mediobanca stake
February 12, 2015 / 5:41 PM / 3 years ago

Groupama launches sale of its 4.9 pct Mediobanca stake

PARIS, Feb 12 (Reuters) - French insurer Groupama said on Thursday it had launched via a private placement and bookbuilding the sale of its 4.9-percent stake in Italian bank Mediobanca.

It said the bookbuilding would start immediately and that the sale would strengthen its financial leeway and reduce its exposure to market risks.

Groupama is Mediobanca’s third largest shareholder behind French businessman Vincent Bollore with 5.02 percent and Unicredit with 8.68 percent, according to Thomson Reuters data.

Reporting by Andrew Callus; Editing by Nicholas Vinocur

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