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Allianz Plans to Payoff manroland Debt

The Reuters news agency late last week reported that Allianz SE and MAN SE plan to pay off the remaining debt of manroland, to provide the press maker with a clean balance sheet as it enters into the New Year.

Allianz Capital Partners, the private equity arm of Allianz SE, purchased a 65 percent stake of manroland in July 2006, while MAN SE continues to be a significant holder of manroland stock.

In a Friday newspaper article, published in the Frankfurter Allgemeine Zeitung (translated into English as the Frankfurt General Newspaper), manroland Chief Executive Gerd Finkbeiner said, “At the end of 2008, we had no net debt and soon we will be completely free of debt. Our owners will replace the remaining liabilities entirely with equity.”