Allianz Europe B.V. acquires a stake in Allianz Saudi Fransi

Saudi Fransi Bank sells 57% of its stake in Allianz Saudi Fransi Cooperative Insurance Company to Allianz Europe BV, a subsidiary of the German insurer Allianz.

The transaction, which is currently subject to regulatory approval, amounts to 81.4 million SAR (21.7 million USD). Following this transaction, Saudi Fransi will hold only 14% of the Saudi insurer.

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