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Allianz: buys businesses in Brazil

( - Late on Friday, Allianz announced that it has bought SulAmerica's automobile and P&C businesses in Brazil, which will enable it to become one of the three largest players in P&C insurance in the country.

Pending various regulatory approvals, the deal is expected to be finalised in the next 12 months. The businesses have been bought for approximately 667 million euros.

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