Allianz SE (ALV.XE) plans to buy an 8.33% stake in soccer club
FC Bayern Munich AG, which would make Europe's biggest insurer the
club's third major shareholder alongside sportswear maker Adidas AG
(ADS.XE) and car maker Audi AG (NSU.XE), German daily Bild reports
online.
An Allianz spokeswoman declined to comment on the report.
According to the newspaper, Allianz will pay 110 million euros
($150 million) for the stake. After a capital increase in the club,
in which the other shareholders won't participate, Allianz, Adidas
and Audi will each hold 8.33% of Bayern Munich, the newspaper
says.
The soccer club will use the additional funds to pay off debt
related to its home stadium in Munich, the Allianz Arena, according
to the newspaper. The stadium will continue to be named Allianz
Arena, it said.
Newspaper website: http://www.bild.de
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