ALLIANZ TO TAKE 65 PERCENT STAKE IN VENTURE

ALLIANZ TO TAKE 65 PERCENT STAKE IN VENTURE

Allianz AG of West Germany agreed this week to take a 65 percent stake in a holding company that it will set up with Paris-based Compagnie de Navigation Mixte SA, to cover all their insurance interests in France.

The new holding company will be headed by Emmanuel Gautier, current chairman of Mixte's Via Assurances and Rhin-et-Moselle, Mixte's insurance operations, Pierre-Yves Soleil, chairman of Allianz RAS Holding France, as his deputy.Together the two groups have a network of 1,600 general agents.

After Mixte had fought off a takeover bid by banking group Paribas last September, Mixte chairman Marc Fournier announced that his company and Allianz would each take 50 percent in a holding company that would own Allianz Ras France's and Mixte's insurance assets in France.

In a communique issued Monday, the Mixte said that it would hold a 34 percent stake in the new - so far unnamed - holding company, leaving 1 percent in the hands of the public.

The new concern would represent consolidated premium income of about FF10 billion (FF5.635 equals US$1) in 1990, most of it derived from the French market, the statement said.

Meanwhile, talks continue between Mixte and Paribas to reduce the banking group's stake in the Mixte, a conglomerate with holdings in the food and

financial industries.

The idea is to reduce Paribas' holdings in the Mixte from about 40 percent to 33 percent.