Cina. Anbanged ed HNA comprerebbero Allianz.

Giuseppe Sandro Mela.

2017-09-11.

Questa è la struttura del’azionariato di Allianz al 31 dicembre 2016. Si noti come il 33.8% del capitale sia tedesco mentre il 66.2% sia straniero.

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Cerchiamo di capire chi siano le parti in causa.

Anbang Insurance Group.

«Anbang Insurance Group (Chinese: 安邦保险; pinyin: Ānbāng bǎoxiǎn) is a Chinese holding company whose subsidiaries mainly deal with insurance, banking, and financial services. The company was founded in 2004 as a regionally based property insurance business with its headquarters in Beijing. Its founding shareholders included state-owned car maker Shanghai Automotive Industries Corp., which held a 20% stake. In 2005 state-owned oil company Sinopec bought a 20% share.

As of February 2015, the company had assets worth more than CN¥800 billion (US$123 billion). The Financial Times has described Anbang as “one of China’s most politically connected companies.”

Anbang Insurance has more than 30,000 employees in China and is engaged in offering various kinds of insurance and financial products.

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The company holds a geographically diversified portfolio of assets in financial services real estate and lodging.

    In 2014, Anbang Insurance acquired Belgium insurer, Fidea Verzekeringen.

    In 2014, Anbang Insurance purchased the Waldorf Astoria New York hotel from Blackstone for nearly US$2 billion.

    In 2015 Anbang purchased Dutch insurer Vivat from the Dutch state. They paid €150m outright, and agreed to infuse between €770m and €1bn in fresh capital, and to take on €550m of debt.

    In 2015 Anbang paid US$1 billion for a 57.5% stake in South Korea’s Tongyang Life, an insurance company, in what was reported to be the first direct investment in a South Korean financial institution by a mainland China entity.

    In November 2015, Anbang announced that it would buy Iowa-based insurer Fidelity & Guaranty Life for about $1.57 billion.

    In February 2016, the Financial Post in Canada reported that is to purchase a 66% stake in four office towers of Bentall Centre in Vancouver from Ivanhoe Cambridge, a subsidiary of Caisse de dépôt et placement du Québec; and subsequently remaining 33% stake in May 2016. Terms of the deal were undisclosed. But the price paid by Anbang is reported to value the property at over CAD$ 1 Billion.

    In March 2016, Blackstone agreed to a further US$6.5 billion sale of 16 landmark US hotels owned by the Strategic Hotels & Resorts REIT, including the historic Hotel del Coronado near San Diego, the Westin St. Francis in San Francisco, several Four Seasons resorts, and Manhattan’s JW Marriott Essex House hotel.

    In April 2016, Anbang purchased Allianz’s South Korea operations.

    In 2016, Anbang purchased Retirement Concepts, a Canadian company with 24 retirement homes in British Columbia, Calgary and Montreal.» [Fonte]

Riassumendo.

Anbang è un gruppo assicurativo cinese con asset di 123 miliardi di dollari nel 2015, e penetrazione nel mercato mondiale.

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HNA Group.

«HNA Group Co., Ltd., is a Chinese conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it is involved in the aviation, real estate, financial services, tourism, logistics, and other industries. It is part owner of Grand China Air (Hainan Airlines), China’s fourth largest airline, and owns 25% of Hilton Worldwide.

HNA Group was ranked 170th in 2017 Fortune Global 500 list.» [Fonte]

Nel 2015 il total asset ammontava a 466.709 miliardi di yuan.

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Allianz.

«Allianz SE is a German financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. As of 2014, it is the world’s largest insurance company, the largest financial services group and the largest company according to a composite measure by Forbes magazine, as well as the largest financial services company when measured by 2013 revenue. The company is a component of the Euro Stoxx 50 stock market index.

Its Allianz Global Investors division ranks as a top-five global active investment manager, having €1,933 billion of assets under management (AuM), of which €1,408 billion are third-party assets (as of 2015-03-31), with specialized asset managers including PIMCO (bonds), RCM (equities) and Degi (real estate).

Allianz sold Dresdner Bank to Commerzbank in November 2008. As a result of this transaction, Allianz gained a 14% controlling stake in the new Commerzbank. » [Fonte]

Nel 2015 Allianz gestiva un asset under management di 1,933 miliardi di euro, dei quali 1,408 erano di terze parti.

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Si resta alquanto sorpresi quando si esamina l’elenco dei maggiori azionisti.

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Il cancellierato della Bundeskanzlerin Frau Merkel passerà alla storia come il periodo in cui l’élite ha svenduto la Germania.

Germania. Sassonia. La realtà travolge i tedeschi. Ed è solo l’inizio.

Germania. La demografia che stritola. Mancano tre milioni di lavoratori. – Vbw.

Germania. La malata di Europa. 68 banche nei triboli. – Bundesbank

Trump. Export tedesco e banche nei triboli. – Handelsblatt

Germania. Non è povera. È misera. – Financial Times

Germania. Vdma. Il furor teutonico sta crescendo. – Handelsblatt

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Germania. Deutsche Bank esclusa dal novero delle banche mondiali.

Deutsche Bank. Asset azionario e terrorismo. I proprietari.

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Cina. Banche Cinesi e Belt and Road. Yuan come valuta internazionale.

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→ Reuters. 2017-09-07. China’s Anbang, HNA had sights set on insurer Allianz: sources

HONG KONG (Reuters) – China’s Anbang Insurance Group and HNA Group both considered buying into German insurer Allianz SE this year as part of plans to become global financial powerhouses, people with direct knowledge of the matter said.

The separate talks, which were at an early stage and did not result in formal bids, were called off earlier this year due to expected regulatory hurdles in Germany and China and the fact that Allianz (ALVG.DE) showed little interest, they added.

The Chinese conglomerates both weighed buying a majority stake in the world’s fourth-largest insurer by market value – which is worth over $95 billion – while HNA was also open to a minority stake, two people involved in the discussions said.

It was “highly unlikely” that the talks to acquire a controlling stake in Allianz, one of nine insurers regulators say are of global systemic importance, would be revived in the near future, one of the people said.

A bid would have ran into political and regulatory hurdles as the insurer is a German stalwart that holds a huge amount of capital and is an important pillar for local pensions.

HNA’s [HNAIRC.UL] plan to buy an Allianz stake was first reported by Germany’s Sueddeutsche Zeitung.

Representatives at Allianz, Anbang [ANBANG.UL] and HNA – which has announced over $50 billion in deals since 2015 including stakes in Deutsche Bank AG (DBKGn.DE) and Hilton Worldwide Holdings Inc (HLT.N) – all declined to comment when contacted by Reuters.

Although the talks did not continue for long, the plans for possible separate bids for Allianz reveal ambition among Chinese conglomerates including Anbang and HNA to create a global empire through large, debt-fueled acquisitions.

BINGE BUYING

Massive overseas deals has resulted in Chinese regulators ramping up scrutiny this year of outbound acquisitions – ranging from football clubs to movie studios – of groups including Anbang, HNA, Fosun and Dalian Wanda.

Beijing has increased restrictions on overseas acquisitions in recent months and has leant on domestic banks to reduce lending that helped fuel the shopping spree and saw local firms spending a record $221 billion on assets overseas in 2016.

And in June, China ordered a group of lenders to assess exposure to some of China’s more aggressive dealmakers, including Anbang, Dalian Wanda, and HNA, the sprawling aviation-to-financial services conglomerate.

Anbang started discussing acquiring a controlling stake in Allianz in the second half of last year and had held informal talks with some banks, including select Wall Street banks, to seek advisory and lending support, the people said.

HNA had also held similar talks with some banks, they said. Besides regulatory roadblocks, the uncertainty about the ownership structures at the two conglomerates, however, led to some banks pulling back from those talks, the people said.

Similar to HNA, Beijing-based Anbang, whose main business is insurance, has been one of China’s most aggressive dealmakers in recent years, and is best-known overseas for the record-breaking purchase of the Waldorf Astoria hotel in New York.

Anbang’s overseas shopping spree included acquisition of Allianz’s South Korean businesses — Allianz Life Insurance Korea and asset management firm Allianz Global Investors Korea — for more than $3 million last year.