Brazilian insurer Sul America concludes $600 million sale of some units to Allianz

RIO DE JANEIRO (Reuters) – Brazilian insurer Sul America SA (SULA11.SA) has concluded its 3.18 billion reais ($597 million) sale of its auto unit and other businesses to Germany’s Allianz SE (ALVG.DE), it said in a securities filing on Friday.

The deal was originally announced in August 2019. The sale will appear in the company’s second quarter results.

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