Euler Hermes : to become fully part of the Allianz Group

Following the completion of the simplified tender offer opened from April 9 to April 20, 2018, Allianz reached 94.91 percent of the share capital and theoretical voting rights of Euler Hermes.

The legal conditions were met on April 27 and Allianz has implemented a squeeze-out on the remaining shares of Euler Hermes it did not hold yet, followed by the delisting from Euronext Paris on the very same day.

This operation is an important step in Allianz Group's strategy to deploy capital in strategic businesses such as Euler Hermes, which delivers a solid operating performance. In total, Allianz will have invested 1.85 billion euros in this transaction. The objective is to strengthen its positions in core home markets and in property and casualty in particular.

This buy-out transaction marks a key, and historic, milestone for Euler Hermes, which now fully becomes part of the Allianz family. This is above all a strong recognition of the robustness of the business model and renowned expertise of the world's leading trade credit insurer.

But it is also the start of new chapter for Euler Hermes: with digital transformation on top of our agenda, we plan to grow our IT capabilities, define new growth engines, and embrace new opportunities and ways of working, all to amplify global intelligence and predictive protection.

Together, we embark onto a continuous transformation of our Group. We will succeed together, thanks to a strong mindset of collaboration, innovation and entrepreneurship. In this new direction, each employee will have a concrete role to play, and we will benefit from the help and support of the whole Allianz Group: there's never been a better time to reinvent trade finance! said Wilfried Verstraete, Chairman of Euler Hermes Management Board

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