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German firm takes stake in Ayudhya Insurance.
Byline: Charoen Kittikanya
Mar. 2--Allianz Aktiengesellschaft, a German insurance and financial services company, and two local partners yesterday announced the acquisition of a 24.9 percent stake in Ayudhya Insurance.
The stake was acquired from Japan's Mitsui Sumitomo Insurance (MSI) and Thai affiliate MSI Holdings (Thailand). Terms of the deal were not announced.
According to a statement to the Stock Exchange of Thailand, Allianz will take 10 percent of Ayudhya Insurance, BBTV Equity 8.78 percent and Myriad Materials 6.12 percent.
Myriad Materials is a Thai-owned building-materials company, while BBTV Equity is an investment company ...
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