Allianz to Buy Out Pimco M Unit Plan, Paying at Least €1.4 Billion for Former Employee Stakes
Allianz has moved to terminate the legacy Pimco employee M Unit Plan and will purchase outstanding M Units for cash. The outstanding units represent 9.4% of Pimco, with former employees holding 4.4%. Allianz will pay at least €1.4 billion ($1.61 billion) in cash at closing for M Units held by former employees. Current employees will be offered a se…