Mediobanca has announced a public exchange offer for 100% of Banca Generali, offering its stake in Generali in return for full control of the firm. The transaction, which is valued at 6.3 billion euros, involves the simultaneous investment in Banca Generali and the transfer of the stake held in Generali. According to Piazzetta Cuccia, the aggregation represents a shift in ties with Generali, which have progressed from a financial to a solid industrial collaboration. With this move, the Mediobanca group hopes to become a leader in Wealth Management, with 210 billion euros in assets under management, 2 billion in revenues, and a growth potential of more than 15 billion per year.