Advertisement
 
YOU ARE HERE: LAT HomeCollectionsAllianz Ag
IN THE NEWS

Allianz Ag

BUSINESS
February 26, 2000 | Bloomberg News
Pimco Advisors Holdings LP, the biggest U.S. bond fund manager, delayed until April 28 its vote on Allianz AG's $3.3-billion offer to buy 70% of the company, said Ken Poovey, Pimco's chief operating officer. Shareholders of the Newport Beach company had been scheduled to vote March 24, but Pimco postponed the vote because of a delay in comments on the proposed purchase by the U.S. Securities and Exchange Commission, Poovey said. Allianz, based in Munich, Germany, is Europe's largest insurer.
Advertisement
BUSINESS
January 27, 2000
The Newport Beach company that controls the nation's biggest bond fund manager said costs related to its pending acquisition by Allianz AG caused its fourth-quarter profit to fall 8.8% to $18.6 million, or 35 cents a unit, from $20.4 million, or 40 cents a unit, in the same quarter the previous year. Before the charges, net income rose about 3% to $21 million, or 39 cents per unit. Quarterly revenue rose 7% to $244.4 million. For the year, Pimco earned $74.3 million, or $1.43 per unit, down 2.
BUSINESS
December 29, 1999 | From BLOOMBERG NEWS
Clayton Dubilier & Rice Inc., a New York investment company, and German insurer Allianz agreed Tuesday to buy Fairchild Aerospace Corp. for $400 million in cash, assume $350 million in debt and arrange credit lines of about $440 million to help fund Fairchild's new line of regional jets. Closely held Fairchild, based in Germany and San Antonio, had been looking for investors to help finance a new series of aircraft it needs to compete against its main rivals, Canada's Bombardier Inc.
BUSINESS
December 24, 1999 | EDMUND SANDERS and PAUL J. LIM, TIMES STAFF WRITERS
Orange County bond guru William H. Gross will become one of the world's highest-paid investment managers--earning about $40 million annually over the next five years--under a compensation package proposed in the pending takeover of Pimco Advisors Holdings by German insurer Allianz.
BUSINESS
December 22, 1999 | EDMUND SANDERS, TIMES STAFF WRITER
California's largest insurance company, Newport Beach-based Pacific Life Insurance Co., is in talks that could lead to it being sold to German insurance giant Allianz for more than $3 billion. The negotiations were disclosed Tuesday in a filing with the Securities and Exchange Commission and are separate from the pending $3.3-billion acquisition by Munich-based Allianz of Pimco Advisors Holdings, which is 30%-owned by Pacific Life.
NEWS
December 22, 1999 | EDMUND SANDERS, TIMES STAFF WRITER
Newport Beach-based Pacific Life Insurance Co., California's largest insurance company, is in talks that could lead to it being sold to German insurance giant Allianz AG for more than $3 billion. The company is Orange County's largest privately held concern and one of its largest employers with 2,200 workers. It is also a leading corporate citizen, overseeing a $2.4 million charitable foundation that has provided support for such events as AIDS Walk Orange County and Race for the Cure.
BUSINESS
November 5, 1999 | From Bloomberg News
Pimco Advisors Holdings LP, the No. 1 U.S. bond fund manager, has been sued by owners of limited partnership units who contend they'll be shortchanged if a planned $3.3-billion takeover by Europe's second-largest insurer, Allianz AG, goes through. Newport Beach-based Pimco said Sunday that Munich-based Allianz wants to buy 70% of the company for $38.75 per unit--a 12% premium over the Friday closing price.
BUSINESS
November 2, 1999 | (Edmund Sanders)
William Cvengros, chief executive at Pimco Advisors Holdings, said he will decide by the end of the year whether he will remain with the Newport Beach money manager after Munich, Germany-based Allianz AG acquires a majority stake. Though most other key executives at Pimco have agreed to remain with Pimco after the $3.3-billion deal, Cvengros, 50, is still discussing his future role at the company.
BUSINESS
November 1, 1999 | EDMUND SANDERS, TIMES STAFF WRITER
Pimco Advisors Holdings, one of the world's largest bond managers, agreed Sunday to sell 70% of the company to Europe's second-largest insurer in a $3.3-billion deal that is likely to spur similar marriages between U.S. and foreign financial giants. Ending months of speculation, Newport Beach-based Pimco said it signed a definitive agreement to sell majority ownership to Munich, Germany-based Allianz for $38.75 a unit in cash, valuing the entire company at $4.7 billion.
NEWS
November 1, 1999 | EDMUND SANDERS, TIMES STAFF WRITER
Pimco Advisors Holdings LP, one of the world's largest bond managers, agreed Sunday to sell a 70% stake in the company to Europe's second-largest insurer in a $3.3-billion deal that is likely to spur similar marriages between U.S. and foreign financial giants. Ending months of speculation, Newport Beach-based Pimco said it signed a definitive agreement to sell majority ownership to Munich, Germany-based Allianz AG for $38.75 a unit in cash, valuing the entire company at $4.7 billion. The $3.
Los Angeles Times Articles
|