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Allianz completes acquisition of 100% stake in Irish subsidiary

Allianz Group has acquired 100% stake in unit Allianz Irish Life Holdings Plc, after Great-West Lifeco Inc. completed the sale of its 30.43% ownership in the company.

The sale was approved by the shareholders of Allianz Irish Life Holdings and sanctioned by the High Court in Ireland.

Great-West Lifeco received €145 million in consideration from the sale, which resulted in a €15 million gain on disposal.