Allianz seals £500mn LV= minority stake acquisition

Allianz has agreed a deal to acquire a 49 percent stake in UK
mutual LV='s general insurance business for £500.0mn
($657.5mn).
The carriers have also agreed to launch a joint venture under
the LV= brand, which will create the UK's third largest general
insurer with annual premium income of over £1.7bn.
The deal is expected to close in the second half of this year
and remains subject to relevant regulatory approvals.
The agreement also contains a provision for Allianz to...