Shares in Nuernberger Rise After Takeover Agreement with Vienna Insurance
By Aimee Look
Shares in Nuernberger Beteiligungs-AG rose after the German insurance company signed a deal to be taken over by Vienna Insurance, a transaction that values Nuernberger at 1.38 billion euros ($1.61 billion).
Shares in Nuernberger rose 13% to 118.50 euros in European trading. Vienna Insurance's stock fell 5% to 44.85 euros.
Austria's Vienna Insurance said it would offer 120 euros cash a share for 100% of Nuernberger and that major shareholders--including Munich Re and Swiss Re--had agreed to tender shares worth 64.4% of share capital.
Nuernberger board members also agreed to tender their shares, Vienna Insurance said.
"The aim of the investment is to enable sustainable and profitable growth for the Nuernberger Group and to support VIG's long-term growth strategy in the CEE region with the diversification through the special market Germany," it said.
Nuernberger said the deal follows a strategic review and negotiations with other interested parties.
Write to Aimee Look at aimee.look@wsj.com
(END) Dow Jones Newswires
October 17, 2025 06:01 ET (10:01 GMT)
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