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MUNICH, Germany--Munich-based insurer Allianz A.G. expects its merger with Italian insurer RAS Holdings S.p.A. to be effective from October 13.
The German insurer also announced a capital increase as part of it merger with RAS Holdings and its conversion into a Societas Europaea. Allianz said in a statement that it intends to increase its capital by €64 million by issuing 250,000 shares. The capital increase will become effective at the same time as the registration of the merger in the commercial register at the local court in Munich, which is expected to occur on October 13, Allianz said.
Once the merger is effective, Allianz A.G. will take on the legal form of a European company and change its name to Allianz S.E.
In a separate statement, Allianz said that all legal requirements in Italy for the merger of RAS Holding and Allianz A.G. were fulfilled. "The merger, and thereby the conversion of Allianz into a European company, will become effective upon its registration with the commercial register in Munich. This is expected to be carried out on October 13, 2006," the company said in a statement.