Following this transaction, ADAG’s equity stake in Allianz Lebensversicherungs-AG will increase to more than 95 percent. Allianz Lebensversicherungs AG intends to present a resolution regarding the squeeze-out procedure at its next Annual General Meeting.
"The buyout of Allianz Leben’s minority shareholders, which now has become possible, clearly reduces the complexity of our strategic portfolio. It is also the next logical step in line with the restructuring of the German insurance business under the roof of Allianz Deutschland AG", explained Gerhard Rupprecht, member of the board of management of Allianz SE and CEO of Allianz Deutschland AG.
The minority shareholders of Allianz Lebensversicherungs-AG will be offered an appropriate cash compensation based upon the IDW S1 standard regarding the intrinsic value of the company. The offer will equal at least the weighted average stock price of Allianz Lebensversicherungs-AG shares during a period of three months dating back from today on, determined by the Bundesanstalt für Finanzdienstleistungsaufsicht. This figure is not yet published. Based on Bloomberg data the corresponding weighted average stock price would be 774.21 euros.
Allianz Deutschland AG announces squeeze-out on Allianz Leben
Allianz SE’s subsidiary Allianz Deutschland AG (ADAG) has signed contracts via an investment management company regarding the acquisition of further shares in Allianz Lebensversicherungs AG.
These assessments are, as always, subject to the disclaimer provided below.
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The statements contained herein may include statements of future expectations and other forward-looking statements and can involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group's core business and core markets, (ii) the impact of acquisitions, including related integration issues, (iii) the frequency and severity of insured loss events, (iv) mortality and morbidity levels and trends, (v), the extent of credit defaults (vi) performance of the financial markets, (vii) currency exchange rates, (viii), changes in national and international laws, including tax policies. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The matters discussed herein may also be affected by risks and uncertainties described from time to time in Allianz SE’s filings with the US Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement.
No duty to update
The company assumes no obligation to update any information contained herein.
The statements contained herein may include statements of future expectations and other forward-looking statements and can involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group's core business and core markets, (ii) the impact of acquisitions, including related integration issues, (iii) the frequency and severity of insured loss events, (iv) mortality and morbidity levels and trends, (v), the extent of credit defaults (vi) performance of the financial markets, (vii) currency exchange rates, (viii), changes in national and international laws, including tax policies. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The matters discussed herein may also be affected by risks and uncertainties described from time to time in Allianz SE’s filings with the US Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement.
No duty to update
The company assumes no obligation to update any information contained herein.
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