4/23/2008

Koc has transferred its shares to Allianz

PRNET - Koc Holding signed an agreement stipulating that it has transferred its total shares in Koc Allianz Sigorta and Koc Allianz Hayat and Emeklilik companies, in which Koc Holding and the German Allianz SE were partners, to Allianz SE for €354 million. Koc Holding, which received $1,6 billion with the sale of Migros, increased its cash reserve to a level of $2,2 billion following this transfer.