Germany’s Allianz SE, Europe’s largest insurer in terms of gross premiums written, has formalized its offer to acquire the remaining 42.4 percent of the shares in French insurer Assurances GĂ©nĂ©rales de France (AGF) that it does not already own (See IJ web site Jan.18).
Under the terms of the offer, which is limited to French-based shareholders, Allianz would pay €87.50 ($116.66) in cash and 0.25 of an Allianz SE share to be issued for 1 AGF share.
The formal offer followed the approval of the proposed buyout by the Autorité des Marchés Financiers (AMF), the French financial regulatory authority, at a meeting on March 20.
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