Allianz raises its shareholding in Saudi Allianz Fransi

Allianz has acquired an additional 18.5% stake in the capital of local insurer, Saudi Allianz Fransi (AzSF). The German group now holds a 57% stake in the company’s capital. The transaction has recently been approved by supervisory authorities. The 18.5% stake has been acquired by the Bank Saudi Fransi (BSF) at 22 SAR (5.8 USD) per share.

It is the first time in Saudi Arabia that a foreign investor is authorized to acquire a stock in an already listed company.

Read also:

• Sharp fall of the Saudi insurance market’s profits

Allianz has acquired an additional 18.5% stake in the capital of local insurer, Saudi Allianz Fransi (AzSF). The German group now holds a 57% stake in the company’s capital. The transaction has recently been approved by supervisory authorities. The 18.5% stake has been acquired by the Bank Saudi Fransi (BSF) at 22 SAR (5.8 USD) per share.

It is the first time in Saudi Arabia that a foreign investor is authorized to acquire a stock in an already listed company.

Read also:

• Sharp fall of the Saudi insurance market’s profits