Key Developments: Allianz SE (ALVG.DE)
117.10EUR
24 May 2013
€-0.50 (-0.43%)
€119.60
€118.30
€118.75
€115.95
1,719,837
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Latest Key Developments (Source: Significant Developments)
Macquarie Group Limited Consortium Buy E ON AG's Open Grid Europe Gas Distribution Network For $4 Billion, Beats Out Allianz SE's Consortium-Reuters
Reuters reported that E ON AG has sold its Open Grid Europe gas distribution network to a consortium led by Australian bank Macquarie Group Limited for EUR3.2 billion ($4 billion), raising cash to pay down debt and fund expansion. The deal announced on Wednesday brings E.ON's tally of divestments to more than EUR12 billion, well on its way toward its goal of selling assets worth EUR15 billion by the end of 2013 to help offset the impact of Germany's nuclear exit. E.ON expects the transaction to close in the third quarter. The consortium that won the bid comprises Macquarie's European Infrastructure Fund 4, Infinity Investments, British Columbia Investment Management Corp (bcIMC) and Muenchener Rueckversicherungs-Ges. AG's asset management unit MEAG. It beat out three other groups led by France's GDF Suez, Germany's Allianz SE and Belgium's Fluxys SA. Full Article
Allianz SE Confirms FY 2012 Operating Profit Guidance
Allianz SE announced that it continues to expect an operating profit for the fiscal year 2012 of EUR 8,200.00 million plus or minus EUR 500.00 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2012 operating profit of EUR 8,541.45 million. Full Article
Allianz SE Reaffirms FY 2012 Earnings Guidance-Reuters
Reuters reported that Allianz SE is on track to achieve fiscal 2012 earnings target after reporting a forecast-beating net profit rise of nearly 60% for the first quarter. The Company is striving for operating profit in the range of EUR8.2 billion, plus or minus 500 million, in fiscal 2012. Full Article
Western Union Co And Allianz SE Union Sign Memorandum Of Understanding
Western Union Co and Allianz SE have signed a Memorandum of Understanding to develop, design and distribute insurance products in several countries around the world. Allianz and Western Union will work closely over the next year to develop solutions for customer needs within each of the companies' networks, which together reach millions of potential customers. The companies anticipate that Allianz will take the role of product provider and Western Union will serve as distributor. They will also explore co-marketing opportunities and premium payments for Allianz customers through Western Union. Full Article
Canada Pension Plan Investment Board Completes Acquisition of 24.1% Stake in Gassled From Statoil ASA Alongside Allianz SE's Subsidiary
Canada Pension Plan Investment Board announced that a consortium including the Company has completed the acquisition of a 24.1% stake in the Gassled Joint Venture (Gassled) from Statoil ASA. The consortium entered into an agreement to acquire this stake in June 2011. The buyer is Solveig Gas Norway AS, a holding company that is approximately 40% owned by CPPIB, 30% by Allianz Capital Partners, a subsidiary of Allianz SE, and 30% by Infinity Investments SA, a wholly owned subsidiary of the Abu Dhabi Investment Authority. The total value of the transaction as announced on June 6, 2011 is NOK17.35 billion or approximately CAD3.18 billion. Full Article
Moody's Affirms Allianz SE Long-term Ratings And Standalone Credit Assessments-Reuters
Reuters reported that Moody's affirmed the IFSR of Allianz SE, AXA SA, Aviva plc and their subsidiaries, but cut the outlook on the rating to negative from stable. Full Article
Allianz SE To Price EUR1.5 Billion 10-Year Bond At Swaps +1.25-DJ
Dow Jones reported that Allianz SE has set final price guidance on its EUR1.5 billion, 10-year senior unsecured bond at 125 basis points over midswaps. This is at the tight end of initial guidance at 125-130 basis points over midswaps. Credit Agricole SA, Commerzbank AG, Deutsche Bank AG and HSBC Holdings PLC are the lead managers of the sale. The issuer is rated Aa3 by Moody's Investors Service Inc. and AA by Standard & Poor's Corp. Full Article
Allianz SE Announces Resignation of Member of Management Board Responsible for Finance
Allianz SE announced that Dr. Paul Achleitner, Member of Management Board Responsible for Finance, will leave the Board of Management of Allianz SE at the end of May 2012 should the Supervisory Board release him from his contractual obligations. Full Article
Allianz SE Confirms FY 2011 Guidance
Allianz SE announced that it has confirmed its fiscal year 2011 forecast. The Company still expects to achieve operating profit target of EUR 8.0 billion plus or minus EUR 0.5 billion. According to I/B/E/S Estimates, analysts on average are expecting the Company to report operating profit of EUR 8,179.75 million. Full Article
Sberbank Rossii OAO To Acquire Insurance Company Allianz Life OOO From SAK Allianz ZAO-SKRIN
SKRIN reported that Sberbank Rossii OAO has signed an agreement with SAK Allianz ZAO regarding the acquisition of a 100% stake in Insurance Company Allianz Life OOO (Strakhovaya Kompaniya Al'yans Layf OOO). The parties have agreed to close the transaction before the end of the year 2011. Financial details were not disclosed. Full Article
PIMCO asset surge powers Allianz quarterly earnings
FRANKFURT - Money poured into asset manager PIMCO's funds during the first three months of 2013, giving a strong boost to the earnings of its parent company, German insurer Allianz SE .
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