July 10, 2020 / 9:24 PM / a month ago

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

RIO DE JANEIRO, July 10 (Reuters) - Brazilian insurer Sul America SA has concluded its 3.18 billion reais ($597 million) sale of its auto unit and other businesses to Germany’s Allianz SE, 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.

$1 = 5.32 reais Reporting by Gram Slattery Editing by Chris Reese

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