December 22, 2017 / 6:21 AM / a year ago

Allianz seeks to buy remaining shares in Euler Hermes​

FRANKFURT, Dec 22 (Reuters) - Allianz, Germany’s biggest insurer, said it was seeking to become the sole owner of Euler Hermes and plans to offer 122 euros ($145) apiece for the shares in the French credit insurance firm it does not already own.

Allianz filed a tender offer for the outstanding shares in Euler Hermes, representing a 24.2 percent stake, with French markets regulator AMF, it said on Friday.

The offer would open in early 2018 and Allianz intends to follow up with a squeeze-out procedure, it added. ($1 = 0.8440 euros) (Reporting by Ludwig Burger; Editing by Subhranshu Sahu)

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