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Goldman takes European equity crown from UBS

Munich Re switches from Deutsche Bank for €1bn Allianz block trade

Goldman Sachs has risen to number one in the European equity rankings after completing a €1.1bn ($1.3bn) sale of shares in Allianz. The shares were sold by rival German insurer Munich Re, which had used Deutsche Bank for its two previous Allianz block trades.

Deutsche Bank sold €377m worth of Allianz shares for Munich Re in May this year and €677m in November 2003.

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