Finance
U.S. funds Calvert, NYC Comptroller to back Mediobanca's bid for Banca Generali
Published by Global Banking & Finance Review®
Posted on June 5, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 5, 2025
1 min readLast updated: January 23, 2026
Calvert and NYC Comptroller back Mediobanca's bid for Banca Generali, facing opposition from investor Caltagirone. Shareholder vote is set for June 16.
MILAN (Reuters) -Calvert and New York City Comptroller Brad Lander will vote in favour of Italian merchant bank Mediobanca's bid for private bank Banca Generali on June 16, the two U.S. funds said on their respective websites on Thursday.
Mediobanca in April proposed buying Banca Generali from insurer Generali as it seeks to stave off a buyout bid from Monte dei Paschi di Siena (MPS).
Due to the MPS bid and Italian corporate takeover rules, Mediobanca must first seek shareholders' approval to pursue the Banca Generali deal and has called a meeting for June 16 to vote on the plan.
Italian tycoon Francesco Gaetano Caltagirone, a leading investor in Mediobanca, has expressed a negative view on the Banca Generali bid and is seeking a a delay of the shareholder vote saying key details are still unclear.
The two funds did not disclose their stakes in Mediobanca.
(Reporting by Gianluca Semeraro, editing by Valentina Za)
Calvert and New York City Comptroller Brad Lander will vote in favor of Mediobanca's bid for Banca Generali.
Mediobanca must seek shareholders' approval due to a competing bid from Monte dei Paschi di Siena and Italian corporate takeover rules.
Francesco Gaetano Caltagirone has expressed a negative view on the Banca Generali bid and is seeking a delay of the shareholder vote.
The shareholder meeting to vote on Mediobanca's bid for Banca Generali is scheduled for June 16.
No, the two funds did not disclose their stakes in Mediobanca.
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