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

By None

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.

«