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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Aegon Ltd | EU:AGN | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.052 | 0.89% | 5.91 | 5.91 | 5.912 | 5.918 | 5.882 | 5.882 | 86,968 | 08:15:26 |
THE HAGUE, The Netherlands, November 24, 2014 /PRNewswire/ --
Aegon has reached an agreement to sell its 35% share in La Mondiale Participations to La Mondiale for EUR 350 million, in line with IFRS book value. The proceeds will be added to the company's excess capital buffer and will increase the group's IGD solvency ratio by approximately 5 percentage points.
"We look back at a successful partnership over the past 12 years with La Mondiale and are pleased with the results that we have achieved together", said Alex Wynaendts, CEO of Aegon. "Following a strategic review and in line with our commitment to optimize our portfolio, we concluded that the partnership no longer matches our ambitions."
Aegon and La Mondiale entered into a joint venture in 2002 to form La Mondiale Participations, which offers life insurance, pensions and savings products in France and Luxemburg. Aegon's share in net underlying earnings of the partnership amounted to
EUR 19 million in the first nine months of 2014.
It is anticipated that the transaction will close during the first quarter of 2015, subject to regulatory approval.
News releases, financial calendar and other corporate publications can also be found in Aegon's Investor & Media App.
DISCLAIMERS
Forward-looking statements
The 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, 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.
Aegon's roots go back 170 years - to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses in more than 25 countries in the Americas, Europe and Asia. Today, Aegon is one of the world's leading financial services organizations, providing life insurance, pensions and asset management. Aegon's purpose is to help people take responsibility for their financial future. More information: aegon.com.
Media relations
Marcel van Beusekom
+31(0)70-344-8572
gcc@aegon.com
Investor relations
Willem van den Berg
+31(0)70-344-8305
ir@aegon.com
SOURCE Aegon N.V.
Copyright 2014 PR Newswire
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