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BRIEF-Allianz Announces China Deal With CITIC Trust

· 02/05/2021 03:23
BRIEF-Allianz Announces China Deal With CITIC Trust

- Allianz SE ALVG.DE:

  • ALLIANZ CHINA LIFE TO BECOME WHOLLY-OWNED SUBSIDIARY OF ALLIANZ CHINA INSURANCE HOLDING

  • ALLIANZ (CHINA) INSURANCE HOLDING CO., LTD. (AZCH) AND CITIC TRUST CO., LTD. (CITIC TRUST) HAVE SIGNED AN EQUITY TRANSFER AGREEMENT FOR AZCH TO ACQUIRE 49 PERCENT SHARES OF ALLIANZ CHINA LIFE INSURANCE CO., LTD (AZCL) FROM CITIC TRUST

  • AFTER THE TRANSACTION, AZCL WILL BECOME A WHOLLY-OWNED SUBSIDIARY OF AZCH

  • AGREEMENT DEMONSTRATES THE STRONG CONFIDENCE AND LONG-TERM COMMITMENT OF ALLIANZ GROUP TO THE CHINA MARKET

Source text: https://bit.ly/3cGXZ91

Further company coverage: ALVG.DE


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