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ALIZF Allianz Ag Muenchen Namen (PK)

290.128
0.00 (0.00%)
16 Jul 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
  0.00 0.00% 290.128 284.55 289.15 0.00 13:25:42

Allianz Plans to Buy 8.33% Stake in FC Bayern Munich - Report

11/02/2014 6:32pm

Dow Jones News


Allianz Ag Muenchen Namen (PK) (USOTC:ALIZF)
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Allianz SE (ALV.XE) plans to buy an 8.33% stake in soccer club FC Bayern Munich AG, which would make Europe's biggest insurer the club's third major shareholder alongside sportswear maker Adidas AG (ADS.XE) and car maker Audi AG (NSU.XE), German daily Bild reports online.

An Allianz spokeswoman declined to comment on the report.

According to the newspaper, Allianz will pay 110 million euros ($150 million) for the stake. After a capital increase in the club, in which the other shareholders won't participate, Allianz, Adidas and Audi will each hold 8.33% of Bayern Munich, the newspaper says.

The soccer club will use the additional funds to pay off debt related to its home stadium in Munich, the Allianz Arena, according to the newspaper. The stadium will continue to be named Allianz Arena, it said.

Newspaper website: http://www.bild.de

Write to the Frankfurt Bureau at djnews.frankfurt@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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