Child (Generali): « Using the Golden Power on Natixis would be a shame »
For the manager if the government used the Golden Power on the Jont Venture with the French would be « a sin, a lost occasion, but obviously we would respect government decisions »
If the government used the Golden Power on the Natixis case it would be « a sina lost opportunity, but obviously we would respect government decisions « . As The CEO of Generali, Philippe Kminit on the joint venture with the French in a long interview a The truth who arrives after yesterday’s lunge by Francesco Gaetano Caltagirone, shareholder with over 7% of the company, who a few days after the shareholders’ meeting for the renewal of the Board of Directors he declared to Sole 24 hours « The Natixis Divortella Generali operation ».
The crack
Generali’s number one therefore explains the weight that the shareholders’ meeting will have of April 24 to which we arrive with two opposing sides. On the general front The funds with 32% of the capital and aligned with the Mediobanca list in hand that Ricandida Donnat and the president Andrea Sironi while In opposition there would be Francesco Gaetano Caltagirone and the Luxottica group. But as Daniela Polizzi and Andrea Rinaldi recalled on the Corriere della Sera The appeal is still missing some guidelines including CRT (2%), edition (4.8%) and Unicredit (5%).
The future of the company
Kenit explains: « The future of the company is decidedis a choice between a vision of generals such as Public Company and a vision of generals in the hands of private subjects with a different vision of governance ». And he defends the work carried out in recent years: « There is a board of directors that is proposed with a management that has successfully completed three industrial plans, growing the capitalization of the group from 15 to almost 50 billion, and which presented a very ambitious new plan, convincing the market. In a normal context there would be no discussion. Moreover, when I meet many international funds they ask me why is this confusion? I arrive at this assembly with great serenity, I have the serenity of the facts and numbers ».
On the Natixis operation he reiterates: «We are already a leader on the Italian market. But there are few Italian insurance companies that have their own asset management … and we do not want to sell ours because we believe that this asset management activity is strongly connected to life insurance. We are the European leader in this field and therefore we must have a very strong asset management. That’s what we have been building for eight years now ». On the choice of the French company Kminit clarifies « Our dimension is not enough ».
