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PPF group sold stake in GPH for EUR 1.24bn

The PPF group has completed based on an agreement from 2013 the sale of its 24% stake in Generali PPF Holding (GPH) to Italian insurance group Assicurazioni Generali. PPF said that the value of the transaction was EUR 1.24bn. The money will also be used to pay off a loan provided to the PPF group by a banking syndicate and to pay off bonds subscribed by the Generali group and issued by the PPF group.