German union says Provinzial Nordwest offered to Allianz

Muenster, Germany Wed Dec 5, 2012 6:50am EST

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Muenster, Germany Dec 5 (Reuters) - German union Verdi said the owners of Provinzial Nordwest were planning to sell the German public sector insurer to larger rival Allianz.

"We are aware of the intention of the holding to possibly sell Provinzial-Nordwest to Allianz," said Frank Fassin of services union Verdi.

One of owners, the Westfalen-Lippe savings bank association, said on Tuesday, it would soon be decided if and how Provinzial Nordwest will be put up for sale.

Sources told Reuters last week that Allianz is mulling a bid for the insurer. (Reporting by Elke Ahlswede by Ludwig Burger)

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