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Allianz Ayudhya, Sri Ayudhya Capital devise $157 million share swap deal

( November 24, 2017, 07:15 GMT | Insight) -- Allianz Ayudhya Assurance and Sri Ayudhya Capital have entered into agreements worth 5.15 billion baht ($157.3 million) to swap Allianz’s shares for Sri Ayudhya Capital’s and pave the way for the latter’s wholly-owned subsidiary Sri Ayudhya General Insurance to acquire the entire stake in Allianz General Insurance, the Bangkok Post reports.Allianz Ayudhya Assurance and Sri Ayudhya Capital have entered into agreements worth 5.15 billion baht ($157.3 million) to swap Allianz’s shares for Sri Ayudhya Capital’s and pave the way for the latter’s wholly-owned subsidiary Sri Ayudhya General Insurance to acquire the entire stake in Allianz General Insurance, the Bangkok Post reports. The transaction will make Allianz and affiliate CPRN Thailand the largest shareholders in the resulting insurance holding firm, with a 40 percent stake. The deal is subject to regulatory and shareholder approvals, and is expected to be completed in 2018....

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