AEGON Confirms “Restructuring” Talks

Aegon, the Netherlands-based insurer and financial services giant, confirmed that it is “in discussions with its major shareholder Vereniging AEGON (the Association) about a financial restructuring which may result in a realignment of the Association’s interest in the company.”

The moves follows reports that Aegon is in talks to acquire a 50 percent stake in Sony Corp.’s Sony Life Insurance Co. for around 200 billion yen ($1.67 billion). Many analysts have also indicated that they expect the company to announce plans soon to raise nearly $4.7 billion through an additional share placement. The company has declined to comment on the rumors.

Aegon’s statement indicated, however, that the “financial restructuring would provide the company with greater financial flexibility to pursue its strategy. No new shares would be issued and the restructuring would be non-dilutive to ordinary shareholders.”

In addition it asserted that its “capital position remains strong,” and that “no decisions have been taken in relation to timing and quantum of the restructuring.”

“When discussions are concluded a further announcement will be issued,” said the bulletin..”