Allianz to Sell Majority Stake in Russian Operations
June 03 2022 - 2:47AM
Dow Jones News
By Cristina Roca
Allianz SE said Friday that it has agreed to sell a majority
stake in its Russian activities after a decision to scale down its
operations in the country.
The German financial services company will sell the stake to
Interholding LLC, which owns Russian insurer Zetta Insurance.
Allianz will keep a 49.9% holding.
Allianz expects the deal to result in a hit of about 400 million
euros ($429.9 million) on its profit and loss accounts. Its
solvency capitalization and cash position won't be affected, it
said.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
June 03, 2022 03:32 ET (07:32 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Allianz (PK) (USOTC:ALIZY)
Historical Stock Chart
From Oct 2024 to Nov 2024
Allianz (PK) (USOTC:ALIZY)
Historical Stock Chart
From Nov 2023 to Nov 2024
