Aegon closes the sale of Stonebridge
Aegon announced today that it has successfully completed the divestment of Stonebridge, a UK-based provider of accident insurance products to Global Premium Holdings group, part of Embignell group.
As announced on October 9, 2020, the divestment will further simplify Aegon's business profile. This is in line with Aegon’s strategy to actively manage its portfolio of businesses, allocating capital to those businesses with a greater potential for an attractive return on capital, and where Aegon is well positioned for growth.
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Under the terms of the agreement, Aegon sold Stonebridge for a consideration equivalent to approximately GBP 60 million, consisting of the purchase price and dividends related to the transaction. This excludes a contingent consideration of up to GBP 10 million. The transaction will not have a material impact on Aegon's capital position and results.
Aegon’s roots go back more than 175 years – to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses 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 achieve a lifetime of financial security. More information on aegon.com.
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