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Allianz to sell majority stake in Spanish joint venture


Germany-based insurer Allianz S.E. is selling its 60% stake in its Spanish joint venture – Allianz Popular SL – to Spain-based Banco Santander S.A. for €936.5 million ($1 billion), Talk Finance reported. Dutch insurer Aegon N.V. is expected to purchase a majority stake in the joint venture's life and nonlife divisions.

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