Overview
- The companies issued a joint statement on Dec. 11 saying consultations have been halted because conditions for a definitive agreement were not met.
- Talks began with a non-binding MoU on Jan. 21 and, despite confirming industrial merit, concluded without an acceptable structure after an extended review to December.
- The proposed venture would have combined roughly €1.9 trillion in assets, which Generali’s CEO Philippe Donnet said would rank as the world’s ninth‑largest asset manager.
- Generali said the decision has no impact on its business and that targets under its Lifetime Partner27 plan remain confirmed.
- Media reports highlighted political and shareholder resistance and potential Golden Power scrutiny in Italy, and noted that a previously proposed €50 million break fee was removed in September.