(Finance) – Exor finalized the sale of the global reinsurance company PartnerRe to Covea for a total cash amount of 9.3 billion dollars (approximately 8.5 billion euros).
The sale – explains a note – took place on the basis of a consolidated value of shareholders’ equity as of December 31, 2021 of 7.3 billion dollars.
“The acquisition of PartneRe by Covea strengthens its development as a large company in its sector: by joining a larger financial institution, it will benefit from a significant increase in terms of size and capital strength, which it also represents an advantage for its customers “.
As previously announced, Exor and Covea will continue their collaboration even after the completion of the transaction.