Paris to sell 87% stake in GAN to the French insurer Groupama
Article Abstract:
The Government of France decided to sell its 87% stake in the insurance company GAN SA to another insurance group, Goupama, for $2.85 billion in a move that reflects its drive to shed unproductive assets from the public sector as quickly as possible. Other state-owned or state-subsidized financial institutions such as banker Credit Lyonnais and property lender Credit Foncier de France, are slated for privatization in the coming months as France restructures its entire financial sector. The purchase transaction by Groupama values the stake in GAN at $19.8 billion French francs, and the French government said it would publically offer the remaining 13% of GAN listed on the Paris stock exchange.
Comment:
To buy the French govt's 87% stake in GAN for $2.85 billion
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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AIG's deal for SunAmerica signals faith in annuities
Article Abstract:
American International Group Inc. (AIG) said that it will purchase SunAmerica Inc. for $16.5 billion. The purchase involves a stock transaction. SunAmerica is a top issuer and seller of variable annuities. The company posted revenues of up to $2.1 billion in 1997. SunAmerica is also a purchaser to fixed-annuity businesses, which is a more traditional sector. The company is also a expanding manager of mutual funds.
Comment:
American International Group Inc. (AIG) to purchase SunAmerica Inc. for $16.5 billion
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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