EU Approves Allianz, Volkswagen Financial Services Joint Venture
08 March 2013 - 10:15PM
Dow Jones News
By Alessandro Torello
BRUSSELS--The European Union's antitrust authorities approved
Friday the creation of a joint venture between German insurance
company Allianz SE (ALV.XE) and the financial arm of car maker
Volkswagen AG (VOW.XE).
The European Commission "concluded that the proposed transaction
would not raise competition concerns, in particular because a
number of strong competitors will remain active on the market," it
said in a statement.
The joint venture will develop and sell car-insurance
products.
Write to Alessandro Torello at
alessandro.torello@dowjones.com
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