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ALIZY Allianz SE (PK)

27.06
-0.45 (-1.64%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Allianz SE (PK) USOTC:ALIZY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.45 -1.64% 27.06 26.78 27.11 27.08 26.8175 27.00 133,098 21:27:10

Allianz to Sell Majority Stake in Russian Operations

03/06/2022 8:47am

Dow Jones News


Allianz (PK) (USOTC:ALIZY)
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   By Cristina Roca 
 

Allianz SE said Friday that it has agreed to sell a majority stake in its Russian activities after a decision to scale down its operations in the country.

The German financial services company will sell the stake to Interholding LLC, which owns Russian insurer Zetta Insurance. Allianz will keep a 49.9% holding.

Allianz expects the deal to result in a hit of about 400 million euros ($429.9 million) on its profit and loss accounts. Its solvency capitalization and cash position won't be affected, it said.

 

Write to Cristina Roca at cristina.roca@wsj.com

 

(END) Dow Jones Newswires

June 03, 2022 03:32 ET (07:32 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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