New Delhi, March 18 -- Bajaj Finserv share price dropped nearly 2% on Tuesday, after the company announced the acquisition of Allianz's 26% stake in Bajaj Allianz Life & General Insurance. Bajaj Finserv shares fell as much as 1.90% to an intraday low of Rs.1,836.15 apiece on the BSE.

Bajaj Finserv said it signed a Share Purchase Agreements (SPAs) for the acquisition of 26% interest owned by Allianz SE in its insurance businesses, viz. Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC).

The acquisition of Allianz SE's stake will increase Bajaj Group's ownership in BAGIC and BALIC to 100% from the current 74%.

The agreed consideration for 26% stake in BAGIC and BALIC is Rs.13,780 crore and Rs...