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ALIZF Allianz Ag Muenchen Namen (PK)

280.01
-3.54 (-1.25%)
07 Jun 2024 - Closed
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
  -3.54 -1.25% 280.01 275.37 294.70 288.92 280.01 288.92 22 22:00:00

Allianz Capital Partners to Buy 10% Stake in ATC Europe

16/06/2021 12:38pm

Dow Jones News


Allianz Ag Muenchen Namen (PK) (USOTC:ALIZF)
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By Dave Sebastian

 

Allianz Capital Partners will buy a 10% stake in ATC Europe, joining investment group Caisse de Depot et Placement du Quebec in a long-term partnership with American Tower Corp., American Tower and Allianz SE said Wednesday.

The companies said the transaction is valued at more than 530 million euros ($642 million), reinforcing a more than EUR8.8 billion enterprise value for ATC Europe.

American Tower will keep managerial and operational control, as well as day-to-day oversight, of ATC Europe, it said. Allianz said it will get seats on ATC Europe's board, along with certain governance rights.

The companies said they expect the transaction to close in the third quarter.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

June 16, 2021 07:32 ET (11:32 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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