Italy’s top insurer Generali sealed its 1.17 billion euro ($1.36 billion) takeover of smaller rival Cattolica on Friday in a move aimed at cementing its domestic market leadership.

On the last day of Generali’s buyout offer, investors had tendered shares equivalent to 60.8% of Cattolica’s capital, bourse data showed.

Along with the shares it already owned, Generali now holds a stake of 84.5% in Cattolica.

Generali crossed the majority threshold on Thursday but a two-thirds majority was needed to push through extraordinary shareholder resolutions such as the decision to take Cattolica private and merge it into the group – as Generali plans to do.

Generali first moved on Cattolica last year, coming to its rescue with a 300 million euro investment after supervisors told the Verona-based insurer to bolster its finances.

Trieste-based Generali offered 6.75 euros for each Cattolica share tendered, a price deemed fair by Cattolica’s board.

Shares in Cattolica, which until recently traded above the bid’s price, closed at 6.58 euros on Friday.

($1 = 0.8624 euros)