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M&A Activity • Dec 21, 2024
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Ad-hoc | 20 December 2024 15:45
Talanx Aktiengesellschaft: Strategic partnership between Talanx AG and Meiji Yasuda Life Insurance Company will expire on 31 December 2025
Talanx Aktiengesellschaft / Key word(s): Agreement/Letter of Intent
Talanx Aktiengesellschaft: Strategic partnership between Talanx AG and Meiji Yasuda Life Insurance Company will expire on 31 December 2025
20-Dec-2024 / 15:45 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group.
The issuer is solely responsible for the content of this announcement.
AD-HOC ANNOUNCEMENT
Publication of inside information pursuant to Article 17 (1) of Regulation (EU) No 596/2014 on market abuse (Market Abuse Regulation – MAR)
Strategic partnership between Talanx AG and Meiji Yasuda Life Insurance Company will expire on 31 December 2025. Talanx AG strives for full takeover of minority shares in Towarzystwo Ubezpieczeń i Reasekuracji WARTA S.A. and Towarzystwo Ubezpieczeń EUROPA S.A.
The Board of Management of Talanx AG has informed Meiji Yasuda Life Insurance (“Meiji Yasuda”) today that it will make use of the option to terminate the cooperation agreement agreed at the beginning of the strategic partnership. The cooperation with Meiji Yasuda will therefore expire on 31 December 2025 in accordance with the agreements reached. At the same time, both partners have agreed on the economic conditions under which the call and put options regarding the shares currently held by Meiji Yasuda in Towarzystwo Ubezpieczeń i Reasekuracji WARTA S.A. (24.3%) (“Warta”) and Towarzystwo Ubezpieczeń EUROPA S.A. (50.0% minus 1 share) (“TU Europa”) can be exercised. The purchase price for both shares would amount to a mid-triple-digit million euro amount if either party exercises the option and would be payable in the first quarter of the financial year 2026. The Management Board of Talanx AG currently assumes that the remaining shares in Warta and TU Europa will be acquired completely on this basis. The Group’s share in the net income of the two companies would increase by a mid double-digit million euro amount as a result of the acquisition of the minority interests.
Contact:
Bernd Sablowsky
Head of Investor Relations
HDI-Platz 1
30659 Hannover
Tel: +49 511 3747 2231
End of Inside Information
20-Dec-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | Talanx Aktiengesellschaft |
| HDI-Platz 1 | |
| 30659 Hannover | |
| Germany | |
| Phone: | +49 511 3747 2227 |
| Fax: | +49 511 3747 2286 |
| E-mail: | [email protected] |
| Internet: | www.talanx.com |
| ISIN: | DE000TLX1005 |
| WKN: | TLX100 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2056099 |
| End of Announcement | EQS News Service |