Italian court rejects Carige's lawsuit over insurance units sale
The logo of the Carige bank is seen in Rome, Italy September 20, 2018. REUTERS/Max Rossi
(Reuters) - An Italian court on Thursday rejected a claim filed by Banca Carige (NYSE: CRG) against its former insurance units and their current owner, U.S. private equity firm Apollo Global Management (NYSE: APO).
The Italian lender sold insurance units Carige Vita Nuova and Carige Assicurazioni to Apollo in 2015.
In 2016, under new ownership, Carige filed a lawsuit against its former Chairman Cesare Castelbarco and former CEO Piero Montani over alleged damages suffered following the sale of the two insurance units, now part of Gruppo Assicurativo Amissima.
The two units were renamed Amissima Vita and Amissima Assicurazioni, respectively, after the sale.
(Reporting by Silvia Recchimuzzi in Gdynia; editing by David Evans)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Midday movers: Netflix, Super Micro fall; Paramount Global gains
- Sony/Apollo bid for Paramount could be worth as much as $29 billion - Source
- US House advances $95 billion Ukraine-Israel package toward Saturday vote
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!