Allianz Global Investors completed the acquisition of a 49% stake in a French wind farm portfolio from STEAG.

Allianz Global Investors, a global investment management firm, completed the acquisition of a 49% stake in a French wind farm portfolio from STEAG, a provider of utility services. Financial terms were not disclosed. “We are very satisfied with the outcome of the transaction. In the form of Allianz Global Investors, we have found a prestigious partner who has confidence in our ability to manage wind turbines in the long term,” Joachim Rumstadt, STEAG Chairman of the Management Board.