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IN BRIEF: Allianz completes sale of majority stake in Saudi arm
Allianz SE - Munich-based insurance company - Completes sale of its 51% stake in Allianz Saudi Fransi to Abu Dhabi National Insurance Co PSC. The sale was first announced in September last year.
"The transaction, which has already cleared regulatory approvals, is part of Allianz Group's business strategy to streamline its operation in the Middle-East," Allianz says.
Current stock price: EUR261.30
12-month change: up 19%
By Sophie Rose, Alliance News senior reporter
Comments and questions to newsroom@alliancenews.com
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