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ALIZF Allianz Ag Muenchen Namen (PK)

293.90
3.77 (1.30%)
Last Updated: 14:31:26
Delayed by 15 minutes
Share Name Share Symbol Market Type
Allianz Ag Muenchen Namen (PK) USOTC:ALIZF OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  3.77 1.30% 293.90 280.41 293.90 293.90 293.90 293.90 1 14:31:26

Allianz, Banco Popular Form New Joint Venture In Spain

24/03/2011 8:21am

Dow Jones News


Allianz Ag Muenchen Namen (PK) (USOTC:ALIZF)
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German insurance group Allianz SE (ALV.XE) said Thursday it will form a new joint venture with Banco Popular Espanol S.A. (POP.MC), managing around EUR11 billion in assets.

Allianz will hold 60% of the new venture and be named Allianz Popular. Both companies will combine interests in various units, and the total value of the businesses involved is EUR1.06 billion.

The venture offers long-term exclusive distribution of life insurance, pension plans and asset management as well as property and casualty insurance in Spain for an initial term of 15 years.

The transaction is subject to regulatory approvals.

 
-By Monica Houston-Waesch, Dow Jones Newswires; 49 69 2972 5504; nikki.houston@dowjones.com 
 
 
 

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