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25 April 2018

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Allianz cleared for EUR1.1bn Euler Hermes tender offer

Catrin Shi 12 January 2018

Allianz will open the tender offer for the remaining shares in trade credit insurer Euler Hermes after it was granted approval from the French markets regulator AMF.

The firm announced in December that it planned to acquire the 24.2 percent Euler Hermes stake Allianz did not already own at a price of EUR122 per share.

Allianz has since acquired almost 1.6 million shares in Euler Hermes through an off-market transaction at the EUR122 per share offer price, leaving just 20.6...

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