Allianz had been thinking about strengthening itself in our country for some time. He did so over the weekend by purchasing Milano Assicurazioni for 440 million euros. UnipolSai sold it to him, which had the opposite problem: selling equity investments and assets to comply with the constraints imposed by the Antitrust for the green light for the merger between the coop company and the former Ligresti empire.
Allianz clearly beat the competition from the Belgian Ageas who had offered no more than 300 million.
With the Milan operation, Allianz will acquire assets including 1,1 billion in non-life premiums, 729 agencies and 500 employees.
Now they await the judgment of the Antitrust and of course that of the markets.
