Rebel Generali investor ready for legal action in case of narrow defeat
2022.04.06 20:42
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FILE PHOTO: Italian businessman Francesco Gaetano Caltagirone poses for a photograph at a news conference held by Italian banker Claudio Costamagna, a candidate for the chairman role at Generali, and Luciano Cirina, a candidate for the chief executive off
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LONDON (Reuters) – A rebel investor in Generali (MI:GASI) could take legal action if his bid to appoint new top executives at Italy’s largest insurer loses by a narrow margin in a shareholder vote this month, the candidate to the chairman role said.
In an interview with Reuters, former Goldman Sachs (NYSE:GS) banker Claudio Costamagna said Generali investor Francesco Gaetano Caltagirone could challenge in court a victory by the opposite side at the April 29 AGM called to elect a new Generali board if the margin is less than 6%.
He also said the Caltagirone camp was “hopeful” of securing the vote of Italy’s Benetton family which owns around 4% of Generali and is yet to take sides in the feud pitting the construction magnate against Generali’s board and its main investor Mediobanca (OTC:MDIBY).
