Allianz: sale of the stake in Banco BPI
(CercleFinance.com) - Allianz is up 1.
5% in Frankfurt after it announced an agreement to sell its 8.4% stake in the capital of Banco BPI to CaixaBank for a price of 1.45 euros per share, or a global amount of 178 million euros.
With this transaction, CaixaBank increases its stake in the capital of the Portuguese bank to 92.9%.
The German group has also reorganised the partnership with CaixaBank in insurance business via Banco BPI with the aim of maintaining and reinforcing the cooperation for non-life insurance distribution in Portugal.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5% in Frankfurt after it announced an agreement to sell its 8.4% stake in the capital of Banco BPI to CaixaBank for a price of 1.45 euros per share, or a global amount of 178 million euros.
With this transaction, CaixaBank increases its stake in the capital of the Portuguese bank to 92.9%.
The German group has also reorganised the partnership with CaixaBank in insurance business via Banco BPI with the aim of maintaining and reinforcing the cooperation for non-life insurance distribution in Portugal.
Copyright (c) 2018 CercleFinance.com. All rights reserved.