PPF, a private-equity group controlled by Czech billionaire Petr Kellner, plans to sell its stake in an insurance venture it has with Italy’s Assicurazioni Generali SpA, E15 reported without saying where it got the information.
PPF has an option to sell the 49 percent stake in Generali PPF Holding to its Italian partner in 2013, the newspaper said. The Czech group seeks to speed up the sale of the stake, which was worth as much as 3 billion euros (4 billion) at the start of 2011, E15 said.
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