Deals
Allianz Buys $855 Million China Pacific Stake From Carlyle
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Allianz SE, Europe’s biggest insurer, said it bought $855 million of China Pacific Insurance (Group) Co. H shares from Carlyle Group.
Allianz now owns 240 million H shares in China Pacific, representing a 10.4 percent holding in that class, the Munich-based company said today in an e-mailed statement. The stake equates to a 2.8 percent position in CPIC’s total outstanding shares, Allianz said.