Allianz moves to complete Euler Hermes buyout
The insurer has already secured the purchase of 11.34% of the trade credit specialists share capital and is seeking to buy the remaining shares.
Allianz has bought a further 11.34% of trade credit insurer Euler Hermes for a price of 122 euros per share in cash.
The deals takes Allianz’s stake in the business to 74.34%.
Allianz confirmed that it will be making a cash offer at the same price to buyout the remaining shares.
The offer marks a premium of 20.7% on the Euler Hermes share closing price on 24 November.
Euler Hermes’ supervisory board “welcomed the principle of such an offer by Allianz” and has set up a committee to give a
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