Investment - Articles - Allianz to complete squeeze out and delist of Euler Hermes

 Following the completion of the simplified tender offer (offre publique d’achat simplifiée) for the shares of Euler Hermes, opened from April 9 to April 20, 2018, Allianz now holds directly and indirectly 40,472,250 Euler Hermes shares, representing 94.91 percent of the share capital and theoretical voting rights of Euler Hermes (excluding the 619,189 treasury shares held by Euler Hermes).

 In accordance with its intention, Allianz will implement the squeeze-out on the remaining shares of Euler Hermes not held by Allianz (other than the treasury shares), at 122 euros per share in cash. The squeeze-out will be implemented on April 27, 2018, as indicated by the French markets regulator, Autorité des Marchés Financiers, on April 24, 2018.

 As a result of the squeeze-out, Euler Hermes’ shares will be delisted from Euronext Paris on April 27, 2018.
 Allianz will have successfully deployed a total of 1.85 billion euros in the buy-out transaction, which is EPS accretive immediately.

 This operation is an important step in Allianz Group’s strategy to deploy capital in strategic businesses that deliver solid operating performance, and to strengthen positions in core home markets and in property and casualty in particular.