Allianz in talks to take largest trade-credit insurer private
London
ALLIANZ SE is exploring a plan to take Euler Hermes Group private, buying the shares it doesn't already own in the French trade-credit insurer, according to people familiar with the matter. Euler Hermes shares gained as much as 7.9 per cent in Paris.
The German firm, which already owns about 63 per cent of Euler, is speaking to advisers about acquiring the remaining stake, which has a market value of about 1.5 billion euros (S$2.3 billion), the people said, asking not to be identified because the deliberations are private. Discussions are ongoing and Allianz regularly reviews the holding, but no final decision has been made, they said.
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