Aegon: completes sale of Hungarian businesses to VIG

(CercleFinance.com) - The Dutch insurance company Aegon today said that it has completed the sale of its Hungarian operations to Vienna Insurance Group (VIG) for 620 million euros.


In addition, the sale of its operations in Poland, Romania and Turkey is expected to be completed this year, subject to customary approvals.

The closing of the sale of the Hungarian operations will enable Aegon to start to pay off its debt.

The debt repayment will be executed through a 375 million euro tender offer for six subordinated bonds.

In addition, Aegon intends to return 300 million euros of excess cash capital to shareholders via share buybacks in 2022, which will be executed in three tranches of 100 million euros each.



Copyright (c) 2022 CercleFinance.com. All rights reserved.