German's Allianz buys $95 mln stake in Thailand’s Sri Ayudhya Capital

05/02/2019 2:23:00 PM (GMT)

German financial services company Allianz SE has closed on the purchase of a 19.21 percent stake in Thai insurance company Sri Ayudhya Capital.

Allianz bought 56.93 million shares in Sri Ayudhya Capital at $1.66 each, totalling 3.04 billion baht ($95 million).

The transaction is expected to increase collaboration and expertise, and deliver an improved customer proposition in Thailand.

As part of the move, Sri Ayudhya Capital will be renamed Allianz Ayudhya Capital Pcl and its subsidiary Sri Ayudhya General Insurance will be renamed Allianz Ayudhya General Insurance Pcl.

Allianz SE.

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