MILAN, December 18 (Reuters) – General comes into Malaysia with the acquisition of 49% of the insurance company damage MPIB Multi-Purpose Insurans Berhad group MPHB Capital for 81 , 4 million euro.
The agreement, says a note, gives General the right to exercise in two years a call option on a further 21% of the company, allowing the Italian team to reach 70% of the capital, than allowed foreign companies in the country. A shareholder agreement will enable General to appoint immediately certain directors and managers of the company.
The operation is essentially neutral in terms of Solvency, states the note.
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