Allianz Scoops Up Groupama's French Insurance Unit
The parties did not disclose a purchase price, but Allianz said Gan Eurocourtage had generated €800 million ($999 million) in revenues for 2011 and held €1.9 billion in assets. Terms do not include transport activities, the companies said.
Pending regulatory and antitrust approvals, the insurers expect to close the transaction in the fourth quarter of this year.
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