UniCredit and Allianz take further steps to consolidate partnership

5 October 2022 — Andrei Victor
UniCredit and Allianz announced that they have signed a framework agreement and two share purchase agreements related to their respective footprints in Croatia, with the intention to unwind their direct and indirect shareholdings in the country.

Subject to the fulfilment of the notification process to local regulators:

  • UniCredit will purchase from Allianz SE the latter's entire 11.72% stake in Zagrebacka banka dionicko drustvo ("Zaba"), a leading Croatian bank belonging to the UniCredit Group, and
  • Allianz Holding EINS GmbH will acquire the 16.84% minority stake currently held by Zaba in the Croatian insurance company, Allianz Hrvatska dionicko drustvo za osiguranje.
These transactions enable the two parties to unlock additional value through the streamlining of their corporate interconnections in the Republic of Croatia.

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