Allianz Proceeds with Euler Hermes Acquisition, Delisting

April 25, 2018

Allianz Group said it will soon complete the acquisition of Euler Hermes minorities and will delist the trade credit insurer from the Euronext Paris stock exchange.

Following the completion of the simplified tender offer for the shares of Euler Hermes, opened from April 9 to April 20, 2018, Allianz now holds directly and indirectly 40,472,250 Euler Hermes shares, representing 94.91 percent of the share capital and theoretical voting rights.

Allianz said it will implement the “squeeze-out” on the remaining shares of Euler Hermes not held by Allianz at 122 euros per share in cash. The squeeze-out will be implemented on April 27, 2018, as indicated by the French markets regulator, Autorité des Marchés Financiers, on April 24, 2018.

As a result of the squeeze-out, Euler Hermes’ shares will be delisted from Euronext Paris on April 27, 2018.

Allianz will have deployed a total of 1.85 billion euros in the buy-out transaction, which is EPS accretive immediately.

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