Pacific Life has exercised its option obliging Allianz to buy a further stake in PIMCO stake worth $250 million. The purchase takes the Allianz interest in PIMCO interest to 77.5 percent. The Munich-based insurer bought 70 per cent of PIMCO in 1999 for Euros 3.7 billion ($4.2 billion). A 2002 Form 20-F filed by Allianz with the U.S. Securities and Exchange Commission revealed that Allianz received notice from Pacific Life on 27 June that the option would be exercised after exercising a previous $250 million option in the first quarter. The 20-F form was filed by Allianz as part of its U.S. listing requirements.
Allianz Buys More Of PIMCO
Pacific Life has exercised its option obliging Allianz to buy a further stake in PIMCO stake worth $250 million. The purchase takes the Allianz interest in PIMCO interest to 77.5 percent. The Munich based insurer bought 70 per cent of