ALIZF Allianz Ag Muenchen Namen (PK)

   By Pietro Lombardi 
 

Allianz SE (ALV.XE) has increased its stake in Euler Hermes to 92.43%, it said on Wednesday.

The new position comes at the end of a tender offer for the Euler Hermes shares Allianz did not already own that the German insurer launched in January.

"Including the purchase of shares prior to the launch of the tender offer, Allianz has acquired an additional 29.43 percent of Euler Hermes share capital, representing a total investment of approximately 1.5 billion euros ($1.48 billion)," Allianz said.

The transaction won't impact Allianz's planned share buyback program for 2018 of up to EUR2 billion, it said.

Allianz said it expects the transaction to be immediately earnings per share accretive.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

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earnings per share accretive.

(END) Dow Jones Newswires

February 14, 2018 07:14 ET (12:14 GMT)

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