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MUNICH, Germany Allianz S.E. has increased its holding in Assurances Generales de France S.A. to 100%, having completed the "squeeze-out procedure" of the last shareholders in its Paris-based subsidiary.
Shares in the French insurance group will no longer listed on the Paris stock exchange Euronext, the Munich-based insurer said in a statement.
The delisting is the final formal step of the squeeze-out procedure that Allianz S.E. and its French subsidiary announced on April 27. "Through this transaction, Allianz simplifies its corporate structure and strengthens its position in Europe, especially in the French market," Allianz said in a statement.