PressNewsFinancialsStakes and investments: Euler Hermes and EOS announce the sale of its joint venture Bürgel to CRIF

Euler Hermes and EOS announce the sale of its joint venture Bürgel to CRIF

Service & Contacts

Allianz Group Communications
Koeniginstr. 28
80802 Munich
Germany

Contact overview

Receive the latest Allianz news.

Newsletter

Follow Allianz in the social networks:

Facebook
Twitter
Google+
LinkedIn

  • Contact

  • Newsletter

  • Social Media
  • Current shareholders Euler Hermes (50.1%) and EOS (49.9%) intend to sell 100% of their shares to CRIF, with a closing expected in February 2016

  • International business information group CRIF is an ideal candidate and provides continuity

  • Euler Hermes and EOS will maintain their long standing business relationships with Bürgel in the future
     

Euler Hermes
Paris, Dec 21, 2015

Euler Hermes, the worldwide leader in trade credit insurance, and EOS, the international provider of financial services, announce today an agreement signed on Friday, 18 December 2015 with CRIF, a global company providing credit information services, credit and software solutions, headquartered in Bologna, Italy - for the share purchase of Bürgel Group (Bürgel).

100% of the shares will be transferred to CRIF. Currently Euler Hermes holds 50.1% and EOS 49.9% of the joint venture. The share purchase agreement is subject to the standard conditions precedent. The closing of the deal is expected in February 2016.

Bürgel is one of the leading German business information companies with a 130 year track record and currently employs around 500 staff in Germany. CRIF and Bürgel are already business partners in Austria, Switzerland and various other markets.

Established in 1988, CRIF has an important international presence, operating in 50 countries across four continents with more than 2,000 employees. The company pursues a long-term growth and expansion strategy, mainly through the acquisition of companies in various markets in the last years. In 2011, the group purchased the operations of Deltavista in Switzerland and Austria.

The current shareholders will continue their long standing business relationships with Bürgel in the future.

“With CRIF, Bürgel and its employees have found a strategic investor and a new home,” said Ron van het Hof, CEO of Euler Hermes Germany. “CRIF is our ideal candidate and will ensure continuity at Bürgel. The company is one of the leading business information companies with a strong international background. The expertises of CRIF and Bürgel are a perfect match and the new shareholder opens up new growth opportunities to Bürgel. In this way, the company is optimally positioned for the future and all parties benefit from that.”

“EOS will continue its cooperation with Bürgel,” stated Klaus Engberding, Managing Director of EOS Group and responsible for Germany. “This is a clear signal to the market, the customers and the employees.”

“We have been partnering with Bürgel already in the last years in Austria, Switzerland and several other international markets so we are honored to have Bürgel as the newest member of the CRIF family,” said Carlo Gherardi, President and CEO of CRIF. “We already know the quality of Bürgel’s information: the integration of CRIF and Bürgel solutions will provide added-value to the market, through a unique and powerful set of advanced services to support more efficiently and effectively clients’ needs. For this reason it represents a further step in CRIF’s global strategy to strengthen its leading positioning in the global market.”

  Forward Looking Statement disclaimer

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:

 

  Press contact

Antje Stephan
Euler Hermes Deutschland
Phone +49.40.8834-1033
Send email

  More on allianz.com

California Wildfires 2018: Reign of Fire

Allianz-California Wildfires 2018: Reign of Fire
Aug 14, 2018 | Allianz SE

Wildfires in California have burnt through 820,000 acres so far this year. As the U.S. state battles the blaze, is it time to accept that bigger and more frequent wildfires are the new normal?

More...

Allianz reports strong results for 2Q 2018 and confirms full-year outlook

Allianz-Allianz reports strong results for 2Q 2018 and confirms full-year outlook
Aug 03, 2018 | Allianz SE

After a successful start into 2018, Allianz Group continued to achieve good performance in the second quarter. Indicators remained close to or exceeded the second-quarter 2017 levels, despite burdens from geopolitical instabilities and currency fluctuations. 

More...

Allianz World Run 2018: Run Lola Run

Allianz-Allianz World Run 2018: Run Lola Run
Jul 31, 2018 | Allianz SE

Pull up your socks and dust off those shoes. The Allianz World Run 2018 has begun and you’re invited to be a part of the fun run to good health.Over the past two years of the Allianz World Run, more than 22,000 Allianz employees from 55 countries ran 2.75 million kilometers, each year smashing the record for the “longest cumulative distance run by one team in 90 days”. This time around, the event has been opened to everyone as Allianz aims to inspire more people to get moving. 

More...
More...