Generali: Caltagirone-Del Vecchio trade union agreement – Economy

Generali: Caltagirone-Del Vecchio trade union agreement – Economy
Generali: Caltagirone-Del Vecchio trade union agreement – Economy

Delfin, Leonardo Del Vecchio’s Luxembourg holding company, and a series of companies in the Caltagirone group, controlled by the entrepreneur Francesco Gaetano Caltagirone, have entered into a consultation agreement in view of the Generali assembly which, next spring, will be called to approve the budget 2021 and to renew the board of directors. To the agreement, the two entrepreneurs bound “all of the Generali shares held”, equal to 10.948% of the share capital of Leone. It can be read in a paid notice published in Il Messaggero.

The agreement, explains the extract, is attributable to a relevant agreement pursuant to Article 122, paragraph 5, letter a, of the Consolidated Law on Finance, “that is, an agreement aimed at ‘… establishing[re] obligations of prior consultation for the exercise of the right to vote ‘”, with” the commitment of the parties to consult each other on the matters on the agenda of the meeting, with particular reference to the appointment “of the new board of directors.” provided that the parties – the extract reads – maintain full autonomy with respect to the decisions to be taken in view of and during the Shareholders’ Meeting, including as regards the exercise of the right to vote “.

The agreement signed by Delfin with the Caltagirone companies concerns “all the shares of Assicurazioni Generali” held on 10 September and has the purpose of allowing the Parties “to consult in order to better weigh their respective autonomous interests with respect to a more profitable and effective management “of the Trieste company,” based on the technological modernization of the core business, the strategic positioning of the company, as well as its growth in an open, transparent and contestable market logic “.

The agreement contributed 173,098,564 ordinary shares, equal to 10.948% of the share capital of Leone. “The provisions of the Shareholders’ Agreement – reads the extract – will also be applied to any other ordinary shares of Assicurazioni Generali which, in any form, may be held in the direct and / or indirect ownership of the Parties for the entire duration of the Pact “.

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