Talanx says buys majority of Chile's Inversiones Magallanes

viernes 19 de diciembre de 2014 02:46 GYT

FRANKFURT Dec 19 (Reuters) - Talanx, Germany's No.3 insurer, said on Friday it had bought a majority stake in Chile's insurance group Inversiones Magallanes.

"An agreement has already been reached with the majority shareholder on the purchase of its shareholding," the company said in a statement, adding that it would submit a public tender offer.

The purchase price for 100 percent of the company would be about 180 million euros ($221.08 million), Talanx said. (1 US dollar = 0.8142 euro) (Reporting by Harro ten Wolde; Editing by Sunil Nair)