Allianz Terminates PIMCO Employee Equity Plan with €1.4B Cash Buyout
Allianz has exercised its option to end the PIMCO M unit plan, buying outstanding units for at least €1.4 billion in cash.
Allianz has exercised its right to terminate the PIMCO Employee Equity Plan, specifically the PIMCO M Unit Plan. As a result, the plan will be wound down and all outstanding PIMCO M units will be purchased for cash.
The total consideration for the buyout will be at least €1.4 billion. This move effectively ends the employee equity participation structure at PIMCO, with Allianz consolidating its ownership.
Source: First Squawk