Deals
Allianz Buys $535 Million Stake in Five French Shopping Centers
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Allianz SE, Europe’s biggest insurer, agreed to buy a stake in five French shopping malls from Paris-based developer Altarea Cogedim for 395 million euros ($535 million).
Allianz Real Estate will take a 49 percent stake in the malls, located in Paris, Toulouse, Gennevilliers and Toulon, the company said in a statement today. Altarea will continue to manage the properties, which are valued at more than 800 million euros, Allianz said.