Allianz Deal to Buy European Reliance Gathers Pace

Latest update from Allianz;

Allianz had announced in February this year that it had entered into certain Share Purchase Agreements to acquire 72 percent of European Reliance General Insurance Company SA (“European Reliance”).

After obtaining the approvals by the Bank of Greece, the Hellenic Competition Commission and the Hellenic Capital Market Commission, Allianz announces that it has formally published the Information Circular and is proceeding with the Voluntary Tender Offer (VTO) for the remaining European Reliance shares. The VTO acceptance period, will begin on July 4, 2022 at 08:00 AM EEST and end on August 1, 2022 at the end of the working hours of banks operating in Greece.

The transaction is a continuation of the Allianz Group’s stated strategy to grow its franchise by leveraging its scale and expertise.

About alastair walker 9348 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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