Petr Kellner’s PPF investment group has made a deal with Generali, an Italian insurance company and PPF’s business partner. PPF will sell to Generali its 49% stake in Generali PPF Holding, which is a joint venture of PPF and Generali. Generali will pay EUR 2.5 billion for the 49% stake. This puts the total value of Česká pojišťovna at EUR 5.1 billion.