English
Dutch insurer Aegon NV has received a 3 billion EUR (3.8 billion USD) from the Dutch Government to cope with the ongoing financial crisis. The agreement in this respect was concluded between the Dutch Finance Ministry, Aegon and the Dutch Central Bank. Aegon will consequently issue 750 million shares without voting rights for a price of 4 EUR each to their leading shareholder, the Vereniging Aegon Foundation. A year after the issuance, Aegon will be able to buy back the special shares for 150% of the face value or 6 EUR/share.Following the capital injection, Aegon is now the second major Dutch financial player to receive governmental support after ING Groep NV. Early this month, the Dutch Government announced they would make 20 billionEUR available to the financial sector, but only to entities regarded as healthy and viable.Aegon recently announced they were forecasting losses of some 350 million EUR in Q3 and that they would not pay dividends at the end of the year in order to consolidate capital. Aergon paid dividends of 0.3 EUR/share for Q1 in September. In Romania, Aegon and Banca Transilvania have established the pension fund. BT Aegon Fond de Pensii.
Aegon Receives 3 Bln EUR From Dutch Government
F.A.
English Section / 30 octombrie 2008
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