Allianz consortium buys German motorway service stations-source

FRANKFURT, Aug 3 (Reuters) - A consortium led by insurer Allianz has clinched a deal to buy Germany's motorway service station Tank&Rast, a source familiar with the transaction said on Monday.

The group, which also includes Munich Re's MEAG unit, sovereign wealth fund Abu Dhabi Investment Authority and Borealis, part of pension fund OMERS, submitted a bid worth roughly 3.5 billion euros ($3.84 billion), the source said, adding that the deal was set to be announced later on Monday.

Tank&Rast, which operates 350 petrol stations and 390 service stations, is being sold by buyout group Terra Firma and Deutsche Asset & Wealth Management, part of Deutsche Bank (Xetra: 514000 - news) .

Terra Firma bought Tank&Rast for 1.1 billion euros in 2004, before selling 50 percent to Deutsche in 2007.

Allianz and Terra Firma declined to comment.

($1 = 0.9112 euros) (Reporting by Alexander Hübner; Writing by Jonathan Gould; Editing by Ludwig Burger)