Allianz raises stake in Pimco to 95% with €1.4 bn buyback

Allianz exercised its right to terminate Pimco’s employee‑participation plan and agreed to repurchase the outstanding “M Units” for roughly €1.4 billion. The transaction lifts Allianz’s holding from about 90.6 % to roughly 95 % of Pimco, while current employees can retain their units until their employment ends and former employees retain a 4.4 % share.

Analysts at Jefferies described the move as a “joyful surprise”, noting the price implies a total Pimco valuation of about €31.8‑€35.6 billion and that the addition strengthens Allianz’s asset‑management offering. Following the announcement, Allianz shares rose modestly on the XETRA exchange, gaining about 0.6 % to €434.20.