Reuters: Mergers News: Allianz bids below 200 mln eur for Eurocourtage-paper

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Allianz bids below 200 mln eur for Eurocourtage-paper Mar 29th 2012, 21:37 FRANKFURT, March 29 | Thu Mar 29, 2012 5:37pm EDT FRANKFURT, March 29 (Reuters) - German insurer Allianz , which has been eyeing French Groupama's Gan Eurocourtage brokerage arm, made an offer of below 200 million euros, German paper Financial Times Deutschland said in its Friday edition, citing industry sources. Allianz declined to comment and Eurocourtage could not be immediately reached for comment. Reuters earlier this month reported that the French insurer had hoped to get around 700 million euros ($918 million) for the unit. Groupama has been under pressure from French financial regulator ACP to improve its solvency ratios.

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