![]() Image: Allianz headquarters in Munich, Germany. In November 2017, Allianz announced its intention to increase its participation in Euler Hermes via a simplified cash tender offer on 24.20% of Euler Hermes share capital, at the price of 122 euros per Euler Hermes share.Īllianz provides a range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. The company, which is headquartered in Paris, France, is active in 52 countries with over 6,000 employees. The company's intelligence network tracks and analyzes daily changes in corporate solvency among small, medium and multinational companies active in markets representing 92% of global GDP. The squeeze-out will result in the delisting of Euler Hermes’ shares from Euronext Paris on 27 April 2018.Īllianz will have deployed a total of €1.85bn in the buy-out transaction, which the company says is EPS accretive immediately.Īllianz stated that this operation is a key step in its strategy to deploy capital in strategic businesses that offer better operating performance, and to strengthen positions in core home markets and especially in property and casualty.Įuler Hermes offers businessto-business (B2B) clients financial services to support cash and trade receivables management. The squeeze-out will be implemented on 27 April 2018, as indicated by the French markets regulator, Autorité des Marchés Financiers. It excludes the 619,189 treasury shares held by Euler Hermes.Īllianz will implement the squeeze-out on the remaining shares of Euler Hermes not held by it (other than the treasury shares), at 122 euros per share in cash. ![]() As a financial services business, we are especially dedicated to raising the level of financial literacy so that individuals can live their lives in confidence and security.
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