Talanx says buys majority of Chile's Inversiones Magallanes
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)
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