Allianz withdraws Income acquisition offer following intervention by Singapore Government
German insurer Allianz has withdrawn its offer to acquire a majority stake in Income Insurance following the Singapore Government's move to block the proposed transaction. Under the proposed deal, Allianz would have acquired 51 per cent of Income for S$2.2 billion. In a statement, Allianz says it remains convinced that it is the right partner to support Income's growth and mission but the decision reflects the company's financial discipline.
German insurer Allianz has withdrawn its offer to acquire a majority stake in Income Insurance following the Singapore Government's move to block the proposed transaction. Under the proposed deal, Allianz would have acquired 51 per cent of Income for S$2.2 billion. In a statement, Allianz says it remains convinced that it is the right partner to support Income's growth and mission but the decision reflects the company's financial discipline.
Popular Shows
