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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Aegon Ltd | BIT:1AGN | Italy | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
The Hague, February 16, 2022 - Aegon has taken note of the announcement issued today by Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) about the agreement reached between VIG and the Hungarian state holding Corvinus Nemzetközi Befektetési Zrt. (Corvinus) on the details of their cooperation which had been broadly defined in the Memorandum of Understanding dated December 23, 2021. The announcement reads as follows:
“[…] Under the cooperation, Corvinus is to acquire a 45% participation in the Hungarian VIG companies.
The Hungarian VIG companies will be held through the Hungarian VIG holding company (VIG Magyarorszag Befektetesi Zrt.) and two Dutch holding companies (Aegon Hungary Holding B.V. and Aegon Hungary Holding II B.V.). Corvinus will acquire a non-controlling minority interest of 45% in each of these three holding companies. The agreed purchase price for the three 45% participations in these holding companies amounts to about EUR 350 million.
98.64% of the shares of UNION Vienna Insurance Group Biztosito Zrt. will be contributed to the Hungarian VIG holding company. The two Dutch Aegon holding companies hold 100% of the shares in the Hungarian Aegon companies (insurance, asset management, pension fund and service companies). VIG will retain a controlling majority interest of 55% in these three holding companies. In a next step, it is planned to merge the three holding companies whereby the Hungarian VIG holding company is designated as the remaining central steering unit.
The closing of the transaction is subject to the necessary regulatory and competition approvals as well as the closing of the transaction with Aegon.”
On November 29, 2020, Aegon agreed to sell its insurance, pension, and asset management businesses in Hungary, Poland, Romania, and Turkey to VIG for EUR 830 million. Aegon will continue to work with VIG to close this transaction, which is subject to local regulatory approvals.
About Aegon
Aegon is an integrated, diversified, international financial services group. The company offers investment, protection, and retirement solutions, with a strategic focus on three core markets (the United States, the United Kingdom, and the Netherlands), three growth markets (Spain & Portugal, Brazil, and China), and one global asset manager. Aegon's purpose of Helping people live their best lives runs through all its activities. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion & diversity. Aegon is headquartered in The Hague, the Netherlands, and listed on Euronext Amsterdam and the New York Stock Exchange. More information can be found at aegon.com.
Contacts | |
Media relations | Investor relations |
Dick Schiethart | Jan Willem Weidema |
+31(0) 70 344 8821 | +31(0) 70 344 8028 |
dick.schiethart@aegon.com | janwillem.weidema@aegon.com |
Forward-looking statementsThe statements contained in this document that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, could, is confident, will, and similar expressions as they relate to Aegon. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Aegon undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. Actual results may differ materially from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. Such risks and uncertainties include but are not limited to the following:
Further details of potential risks and uncertainties affecting Aegon are described in its filings with the Netherlands Authority for the Financial Markets and the US Securities and Exchange Commission, including the Annual Report. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, Aegon expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Aegon’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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