UnipolSai Assicurazioni S.p.A. (US.MI)

Italy's Unipol makes buyout offer valuing UnipolSai at $8.2 billion

(Reuters) -Italian financial group Unipol announced on Friday an offer for the 14.75% of UnipolSai it does not own, valuing the insurer at 7.64 billion euros ($8.2 billion) in a deal to simplify the group's structure. Shares in Unipol jumped as much as 23.5% after the long-awaited move, hitting their highest level since February 2012. Shares in Italy's second-largest insurer UnipolSai, whose board approved the offer, rose as much as 12.4%.