Milan, 23 September 2021 – today Amissima Vita S.p.A. ("Amissima Vita or the Company") is announcing the signing of the agreement for the sale of the entire share capital of the Company – currently fully held by investment funds affiliated with subsidiaries of Apollo Global Management, Inc.
(Apollo) through Primavera Intermediate Holding S.à.r.l. - to Athora Holding Ltd. ("Athora").
The closing is expected to take place within the first half of 2022 and is subject to the approval of the competent Authorities.
Athora is a Life insurance and reinsurance group fully focused on the European market. Athora concentrates on the traditional life savings and pension markets with an ambition to become a leading operator in Europe. The Athora group employs around 2,300 employees and has around 2.3 million policyholders with total assets of 79 billion euros (as of 30 June 2021).
"Being part of the Athora Group" comments Andrea Moneta, Senior Advisor of Apollo for Italy and Chairman of the Board of Amissima Vita "represents a great opportunity for the development of Amissima Vita in the Italian market and an extremely positive solution for all its stakeholders, in particular for its policyholders, employees and distribution partners. The Company will benefit from the important insurance and reinsurance capabilities and membership of the international network of Athora, one of the most dynamic insurance groups in Europe and for which Amissima Vita will represent the ideal growth platform in the Italian market. Today a new, stimulating chapter opens for the future of this Company. I would like to thank the management and all colleagues for the exceptional work done in recent years under the Apollo ownership ".
BNP Paribas and Fenchurch Advisory Partners served as financial advisers, Chiomenti Studio Legale and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsels to Apollo.