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MarketScreener Homepage  >  Equities  >  Xetra  >  Allianz SE    ALV   DE0008404005

ALLIANZ SE

(ALV)
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Allianz : Keppel, Allianz Units Form JV to Buy Stake in Beijing Office Complex

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10/15/2019 | 08:49pm EST

By Justina Lee

A unit of Keppel Corp.'s (BN4.SG) asset-management arm has formed a joint venture with German insurer's Allianz SE real-estate business to acquire a majority stake in a Beijing office complex.

Keppel Capital unit Alpha Investment Partners and Allianz Real Estate will acquire the office complex for 1.3 billion Singapore dollars ($948.6 million), Keppel Corp said Wednesday. The majority stake will be divided between the two, with Alpha holding 38% and Allianz Real Estate 62%.

The office complex is valued at S$1.5 billion and the acquisition is expected to be completed in the fourth quarter of 2019, it said. The remaining 15% of the complex will continue to be held by the seller, real-estate developer D&J China.

Write to Justina Lee at justina.lee@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ALLIANZ SE 0.51% 218.7 Delayed Quote.24.24%
KEPPEL CORPORATION LIMITED -0.73% 6.8 End-of-day quote.14.67%
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Financials (EUR)
Sales 2019 137 B
EBIT 2019 11 886 M
Net income 2019 7 930 M
Debt 2019 22 952 M
Yield 2019 4,40%
P/E ratio 2019 11,6x
P/E ratio 2020 10,8x
EV / Sales2019 0,83x
EV / Sales2020 0,79x
Capitalization 90 568 M
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Technical analysis trends ALLIANZ SE
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 233,42  €
Last Close Price 217,60  €
Spread / Highest target 19,5%
Spread / Average Target 7,27%
Spread / Lowest Target -8,09%
EPS Revisions
Managers
NameTitle
Oliver Bäte Chief Executive Officer
Michael Diekmann Chairman-Supervisory Board
Christof Mascher Chief Operating Officer
Giulio Terzariol CFO, Head-Finance, Controlling & Risk
Gabriele Burkhardt-Berg Vice Chairman-Supervisory Board
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