German insurance giant Allianz has withdrawn a S$2.2 billion (US$1.68 billion) offer to acquire a majority stake in Singapore’s Income Insurance following the city state’s move to block the deal.
German insurer Allianz announced in July 2024 it was planning to buy a majority stake in Singapore's Income Insurance. (File photos: NTUC, Reuters/Gonzalo Fuentes) New: You can now listen to articles.
SINGAPORE: Income Insurance could still look for other buyers after German insurer Allianz withdrew its offer to acquire a majority stake, but potential investors may now tread with caution ...
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The decision will likely be announced publicly in the coming week, the source said, declining to be named. Allianz declined to comment. Bloomberg reported earlier on Friday that the German insurer was ...
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