Allianz Group has agreed to sell shares representing 8.4 percent of the share capital of Banco BPI to CaixaBank. The total purchase price for this transaction is 178 million euros or 1.45 euros per Banco BPI share. As a result, CaixaBank’s stake in the share capital of Banco BPI will rise to 92.9 percent.

In addition, Allianz has agreed with CaixaBank to reorganize the insurance business partnership through Banco BPI in Portugal, the aim of which is to maintain and strengthen cooperation for the distribution of non-life insurance. The new terms will be subject to approval by the governing bodies of Allianz Portugal and Banco BPI.