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Italian court rejects shareholder challenge to Cattolica capital increase

MILAN, Aug 24 (Reuters) - An Italian court has rejected a request by some of Cattolica’s shareholders to cancel a decision at a shareholders’ meeting to allow the insurer’s board to launch a 500 million euro ($591.55 million) capital increase, Cattolica said on Monday.

The capital increase, which was approved by Cattolica’s board earlier this month, paves the way to a tie-up with Generali, as its biggest rival is set to subscribe it for 300 million euros.

“The deal with Generali goes on as envisaged,” Cattolica said in a statement.

$1 = 0.8452 euros Reporting by Giulio Piovaccari; Editing by Susan Fenton

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