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QBE - QBE Insurance News Story

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Sector
Financials
Size
Large Cap
Market Cap £5.74bn
Enterprise Value £8.08bn
Revenue £11.98bn
Position in Universe 51st / 1837

Allianz eyes Australia's QBE Insurance -Handelsblatt

Sun 29th January, 2017 6:09pm
FRANKFURT, Jan 29 (Reuters) - German insurer Allianz 
 ALVG.DE  is in informal talks about the potential acquisition 
of Australian peer QBE Insurance  QBE.AX , German newspaper 
Handelsblatt reported on Sunday, citing sources. 
    Allianz Chief Executive Oliver Baete met with QBE's Chief 
Executive John Neal before Christmas and has suggested an offer 
of 15 Australian dollars ($11.30) per share, which would value 
the company at A$20 billion, the paper said. 
    Talks between the groups were friendly but there were no 
concrete negotiations about a deal yet, the paper said. 
    Allianz and representatives for QBE Insurance in Europe 
could not immediately be reached for comment. 
     
($1 = 1.3270 Australian dollars) 
 
 (Reporting by Harro ten Wolde; Editing by Catherine Evans) 
 ((harro.tenwolde@thomsonreuters.com; +49 69 7565 1271; Reuters 
Messaging: harro.tenwolde.thomsonreuters.com@reuters.net)) 
 
Keywords: QBE INS GRP M&A/ALLIANZ
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