Vienna Insurance Group acquires Aegon Eastern Europe businesses
Mirko Kuzmanovic / Shutterstock.com
Vienna Insurance Group (VIG) on Sunday said it agreed to acquire the businesses of Dutch peer Aegon in Hungary, Poland, Romania, and Turkey for a price of EUR 830 million, according to a report by state news wire MTI.
Image by Mirko Kuzmanovic/Shutterstock.com
VIG will take over Aegonʼs general and life insurance companies as well as pension funds, asset management, and service companies in the countries. The acquisition will make VIG market leader in Hungary.
The transaction, which must be cleared by regulatory and competition authorities, is expected to close in H1 2021.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.