BEIERSDORF REPORTEDLY ON SELLING BLOCK
PARIS — According to press reports, German insurer Allianz is in talks with L’Oreal and Procter & Gamble to buy its 43.6 percent stake in Beiersdorf, the personal-care firm that produces Nivea. Reports also say Allianz is talking with Tchibo Holding AG, which owns 30 percent of Beiersdorf.
Allianz’s stake is reportedly worth about $4.5 billion, and its market value is $10.3 billion. Dollar figures were converted from the euro at current exchange rates.