24 February 2017
McCann FitzGerald advises on acquisition of Allianz - Irish Life Holdings plc
We are advising Allianz – Irish Life Holdings plc (“AILH”) on the recommended acquisition for cash by Allianz Europe B.V. (“Allianz Europe”) of the shares in AILH not already owned by the Allianz Group. The acquisition is being implemented by means of a scheme of arrangement under the Irish Companies Act 2014.
AILH is the holding company of Allianz Ireland plc which conducts non-life insurance business in Ireland.
Under the terms of the acquisition, AILH shareholders will be entitled to receive for each share in AILH €20.68 in cash.
The acquisition requires the approval of AILH’s shareholders and of the Irish High Court.