Aegon will look at Anbang's Dutch subsidiary if sold this autumn
reuters.com ยท 2018-08-16 06:21
Dutch insurer Aegon would consider bidding for Anbang's Dutch subsidiary Vivat if it is sold this autumn, the company's CFO Matt Rider said on Thursday.
In a telephone interview after Aegon reported first-half earnings, Rider said it would be "premature" to comment on whether Aegon could absorb an acquisition of Vivat's size.
"I think (a Vivat sale) will take place maybe in the fall and we will take a look at it, and then we'll look at all our options, including financing options, but we first have to get our heads around what the business is."
Anbang bought Vivat, which had been nationalised by the Dutch government, for a nominal 1 euro in 2015 and a 1.35 billion euro ($1.54 billion) equity injection.
Anbang, advised by UBS and China's CICC, began vetting investment banks to sell its overseas assets in June but has yet to give any a mandate. ($1 = 0.8781 euros)
In a telephone interview after Aegon reported first-half earnings, Rider said it would be "premature" to comment on whether Aegon could absorb an acquisition of Vivat's size.
"I think (a Vivat sale) will take place maybe in the fall and we will take a look at it, and then we'll look at all our options, including financing options, but we first have to get our heads around what the business is."
Anbang bought Vivat, which had been nationalised by the Dutch government, for a nominal 1 euro in 2015 and a 1.35 billion euro ($1.54 billion) equity injection.
Anbang, advised by UBS and China's CICC, began vetting investment banks to sell its overseas assets in June but has yet to give any a mandate. ($1 = 0.8781 euros)