Mexico’s BGBG integrates Stamoglou Abogados
Mexican law firm Bello, Gallardo, Bonequi y García (BGBG) has announced the integration of fellow Mexican firm Stamoglou Abogados.
Allianz’s takeover of Euler Hermes a ‘logical step’
Allianz, Europe’s leading insurer and principal shareholder of Euler Hermes, has announced the acquisition of the remaining 11.34% of shares in the French credit insurance company.
Posted jeudi, novembre 30 2017
The buyout represents 74.34% of Allianz’s shares. The company said in a statement: “Increasing ownership in Euler Hermes is a logical step for Allianz to deploy capital in strategic businesses delivering solid operating performance, and to strengthen positions in core home markets and in property and casualty in particular.”
Plans for Allianz to takeover Euler Hermes were originally revealed in June. Recently they launched the takeover bid at €122 per share, offering a premium of 20.7% over the last course. The transaction would amount to approximately €1.85 billion. Euler Hermes is the leading global trade credit insurer and a core component of Allianz global lines business. The company has long-term growth prospects in trade credit insurance, bonding and other specialties.
Allianz has stated that it will not change the strategy of Euler Hermes’ management board. "The offer would not affect the composition of the supervisory board of Euler Hermes, nor the strategy of the company and its business model outside the normal course of its business," says the subsidiary of Allianz.
This acquisition is the largest by the German insurer since CEO, Olivier Bäte took over in 2014 and is being viewed as a sign of the many things to come for the German insurer.
C.A.
Mexico’s BGBG integrates Stamoglou Abogados 
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