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 Générales 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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