Talanx AG announced today that it is offering 21.8 million shares in Hannover Rückversicherung-AG (Hannover Re - HNRGn.DE) to institutional investors by way of an Accelerated Bookbuilt Offering. The offering may be increased to up to 24.8 million shares. The 24.8 million shares amount to up to 20.6% of Hannover Re's share capital and would increase the free float to up to 48.8%.
An offering of all 24.8 million shares will reduce Talanx's stake in Hannover Re to a target long term holding of just over 50% in line with its strategy.
The shares will be offered to institutional investors by Morgan Stanley as Sole Bookrunner and Global Coordinator.
Talanx is one of the largest insurers in Germany. Its operations encompass life insurance, property/casualty insurance and reinsurance as well as financial services. Talanx, headquartered in Hanover, is active in 150 countries and employs 8,500 staff worldwide.
Contact: Thomas von Mallinckrodt 0511/3747-2020
