Insurer Allianz sells major stake in BMW

Allianz
SE, a major insurer has sold a major stake in BMW worth over 733 Million Euros(US$949.99
million) to reinvest into their core insurance business.

They sold each share at 45.55 Euros each, hoping initially to sell 16.1 million
shares between 45.55 and 46.55 Euros each.

BMW shares were hit by 1.8 percent in the morning trade to 45.68 Euros and
the Insurer was down 0.2% to 155.59 Euros.