Word: cominvest
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...financing of the deal is complicated and takes place in two steps. First, Commerzbank will pay Allianz $2.33 billion in cash, $4.94 billion in stock, and give the German insurer its asset management business Cominvest, which has a value of roughly $1 billion. Then, in a second step to take place by the middle of next year, Commerzbank will give Allianz another $4.58 billion in stock. In the end, Allianz will hold a 30% stake in Commerzbank, giving the insurance giant the opportunity to sell its insurance products over Commerzbank bank counters. And with Allianz as a major shareholder, Commerzbank...
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