#Aegon #takes #note #equity #issuance #a.s.r
The Hague, October 28, 2022 – Aegon has taken note of the issuance of approximately 10% additional shares that a.s.r. announced on October 28, 2022, as part of its funding in relation to the transaction to combine a.s.r. with Aegon’s Dutch pension, life and non-life insurance, banking, and mortgage origination activities.
As per the transaction announced yesterday, Aegon will receive a 29.99% strategic shareholding in a.s.r. and cash proceeds upon closing. Commensurate with the increase in the number of a.s.r. shares resulting from the equity issuance, the number of shares that Aegon is expected to receive on closing of the transaction increases by 10% from approximately 57.4 million to approximately 63.3 million.
Based on the closing price of a.s.r.’s shares on October 26, 2022 – the day before announcement of the transaction – this represents an increase in the value of the shareholding of EUR 0.3 billion to EUR 2.7 billion. As a consequence of the adjustment mechanism agreed between parties, the cash proceeds will be reduced by EUR 0.3 billion to EUR 2.2 billion.
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.
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