Singapore blocks Income’s deal with Allianz
Singapore hits brakes on $1.7 billion Allianz deal for one-time insurance cooperative after it sparks public outcry
On Monday, Singapore’s government decided to block the deal until Allianz addressed some of its concerns, including whether Income Insurance will be able to continue its social mission.
Singapore Blocks $1.7 Billion Allianz-Income Insurance Deal
The Singapore government is seeking to stop a proposed deal by Allianz SE to buy a majority stake in Income Insurance Ltd. under its current form.
Allianz to consider revising Income offer after current deal blocked by Singapore Govt
Income and NTUC Enterprise said that they will work closely with relevant stakeholders to decide on the next course of action. Read more at straitstimes.com.
Singapore blocks Income’s deal with Allianz, as PM Wong cites ‘structure, terms’ concerns
Prime Minister Lawrence Wong says the government remains open to a new deal if the concerns are fully addressed.
Singapore Halts Allianz Bid To Buy Majority Stake In Local Insurer
Singapore on Monday moved to stop a US$1.7 billion deal that would have allowed German insurance giant Allianz to buy a majority stake in a local insurer.
Singapore blocks US$1.7 billion Allianz-Income insurance deal
The Singapore government plans to stop a proposed deal by Allianz SE to buy a majority stake in a homegrown insurance firm, three months after the transaction sparked a backlash from the public.
Singapore to block Allianz deal for Income but open to new offer, PM says
Singapore will block a bid by German insurer Allianz to buy a majority stake in Singapore's Income Insurance but remains open to a new deal if its concerns can be addressed, Prime Minister Lawrence Wong said in a Facebook post on Monday.
Singapore to Halt $1.69 Billion Allianz Deal for Majority Stake in Income Insurance
The Singapore government plans to put a halt to a proposed deal by Germany’s Allianz to buy a majority stake in Singapore insurance company Income Insurance.
Channel NewsAsia Singapore1h
CNA Explains: What you need to know about the Income-Allianz deal being blocked by Singapore
The Singapore government intervened to stop a proposed deal between Income Insurance and German-based insurance giant Allianz ...
Allianz-Income deal frazzle shocks insiders; coming up with new proposal no easy task
Allianz and NTUC Enterprise were informed of the rejection shortly before the government decision was made public. Read more ...
Business Times9h
Allianz to consider revisions to proposed Income deal; says it respects Singapore government’s position
GERMAN insurer Allianz will consider revising the proposed transaction structure to purchase a majority stake in Singapore’s ...
Channel NewsAsia Singapore5hOpinion
Commentary: What the surprise decision on Income-Allianz deal says about the Singapore government’s priorities
The Singapore government’s decision to block the Income-Allianz deal is telling of the new leadership’s willingness to act ...
The Edge Singapore7h
Ex-Income CEO 'welcomes’ government's Allianz-Income deal block; Allianz to consider revisions to proposed transaction
It is also not clear what Income might do after the capital extraction, for example to adjust or trim its insurance portfolio ...