Germany's Allianz AG
has raised its stake in Pimco
to 77.5 percent, according to a 20-F filing made with the SEC on Monday.
The sale of the additional 7.5 percent stake in Pimco cost the German insurer $250 million. Allianz purchased a 70 percent stake in Pimco for $4.2 billion in 1999, before the bursting of the stock bubble.
, Pimco's parent company, informed Allianz that it intended to exercise its option to sell Allianz the shares on June 27.
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