GLOBAL BUSINESS: Allianz acquires UOB Asset Management; GEA buyback

5. Aug 2026

(AWP Alliance News) - The following is a round-up of updates by global companies, issued on Wednesday and not separately reported by Alliance News:

----------

Allianz SE - Munich, Germany-based insurer - Allianz acquires UOB Asset Management in a EUR376 million deal that accelerates its "growth path in Asia Pacific". It acquires the unit from Singapore-headquartered United Overseas Bank Ltd. The deal also includes a "distribution partnership" UOB, for a "suite of investment products and wealth solutions for their clients". "The proposed acquisition of an established on-the-ground asset management platform would provide access for AllianzGI to a number of important high-growth markets, including Thailand, Malaysia and Vietnam. It will also provide an opportunity to further scale AllianzGI's business in markets where it has an established presence, including Singapore, Taiwan and Indonesia," Allianz adds.

----------

GEA Group AG - Dusseldorf, Germany-based process and thermal engineering equipment manufacturer - Launches new share buyback programme totalling EUR500 million. The first tranche of up to EUR250 million is to start this month. "This share buyback program reflects our confidence in GEA's attractive growth prospects. We are growing profitably and continue to make steady progress executing our Mission 30 strategy," CEO Stefan Klebert says.

----------

Vonovia SE - Bochum, Germany-based real estate company - EPRA net tangible assets per share down to EUR46.22 at June 30 half-year end, from EUR46.28 in December. The fair value of its real estate portfolio, however, rises 1.5% to EUR85.68 billion from EUR84.45 billion. Revenue from property management amounts to EUR2.53 billion in the first half, up from EUR2.52 billion a year earlier, with net profit climbing to EUR1.07 billion from EUR811.2 million. Rental income alone improves to EUR1.76 billion from EUR1.70 billion. For the whole of 2026, it still expects rental income between EUR3.45 billion and EUR3.55 billion.

----------

Schaeffler AG - Herzogenaurach, Germany-based manufacturer of rolling element bearings - Schaeffler swings to a net income of EUR34 million in the second quarter of 2026, from a loss of EUR40 million a year prior. Revenue, however, falls 1.5% to EUR11.67 billion from EUR11.85 billion. "Despite a persistently challenging and rapidly changing global environment, the Schaeffler Group maintained its revenue at the prior-year level in the first half of 2026 and generated good earnings," Chief Executive Officer Klaus Rosenfeld says. "As an integrated technology group, we are able to respond flexibly to dynamic market developments and to largely offset their impact within our portfolio. We confirm our full-year guidance for 2026." It still expects annual revenue between EUR22.5 billion and EUR24.5 billion, compared to EUR23.49 billion in 2025.

----------

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom [at] alliancenews.com