Fonsai Group Recapitalizes

Skadden represented Credit Suisse and UniCredit as joint global coordinators in connection with Fondiaria SAI S.p.A.’s and Milano Assicurazioni S.p.A.’s €450 million and €350 million rights offerings, respectively, announced on June 23. Fonsai owns 62.9 percent of the share capital of Milano Assicurazioni. Known collectively as the Fonsai Group, it is the second-largest Italian nonlife insurance group and the largest Italian motor insurer.