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BRIEF-Allianz Group signs deal to raise stake in Allianz Saudi Fransi
October 26, 2017 / 5:31 AM / a month ago

BRIEF-Allianz Group signs deal to raise stake in Allianz Saudi Fransi

Oct 26 (Reuters) - ALLIANZ SAUDI FRANSI COOPERATIVE INSURANCE CO:

* ALLIANZ GROUP REACHES BINDING AGREEMENT WITH BANQUE SAUDI FRANSI TO BUY 57 PERCENT OF ITS STAKE IN AZSF AT 22 RIYALS PER SHARE‍​

* TRANSACTION RECEIVED SAMA NON-OBJECTION AND WILL BE COMPLETED BY ALLIANZ EUROPE BV

* FOLLOWING COMPLETION OF TRANSACTION, ALLIANZ GROUP WILL HOLD 51 PERCENT OF SHARE CAPITAL OF AZSF

* BANQUE SAUDI FRANSI WILL REMAIN A STRATEGIC PARTNER OF ALLIANZ SAUDI FRANSI Source text for Eikon: Further company coverage:

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