'The acquisition of Finanzen.de will enhance our access to potential customers, support the success of our agents, and strengthen our sales networks,' said Ivan de la Sota, Member of the Board of Management and Chief Business Transformation Officer of Allianz SE.

Allianz X has entered into a binding agreement with Eli Global to assume complete ownership of the company.

Nazim Cetin, CEO of Allianz X, said, 'Acquiring Finanzen.de will secure us a strong position in a fast-growing online leads market. We look forward to developing synergies with Finanzen.de, as well as supporting the expansion of its business to create further value.'

The acquisition is subject to customary closing procedures and is expected to close within the third quarter of this fiscal year.

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Allianz SE published this content on 20 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 May 2019 14:32:05 UTC