Vienna Insurance Group and the Hungarian state holding Corvinus establish cooperation in Hungary
|
EQS-Ad-hoc: VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe / Key word(s): Miscellaneous
VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe ("VIG") and the Hungarian state Holding Corvinus Nemzetközi Befektetési Zrt. ("Corvinus") have agreed on the details of their cooperation which had been broadly defined in the Memorandum of Understanding dated December 23, 2021. Under the cooperation, Corvinus is to acquire a 45% participation in the Hungarian VIG companies.
The Hungarian VIG companies will be held through the Hungarian VIG holding company (VIG Magyarország Befektetési Zrt.) and two Dutch holding companies (Aegon Hungary Holding B.V. and Aegon Hungary Holding II B.V.). Corvinus will acquire a non-controlling minority interest of 45% in each of these three holding companies. The agreed purchase price for the three 45% participations in these holding companies amounts to about EUR 350 million. 98.64% of the shares of UNION Vienna Insurance Group Biztosító Zrt. will be contributed to the Hungarian VIG holding company. The two Dutch Aegon holding companies hold 100% of the shares in the Hungarian Aegon companies (insurance, asset management, pension fund and service companies). VIG will retain a controlling majority interest of 55% in these three holding companies. In a next step, it is planned to merge the three holding companies whereby the Hungarian VIG holding company is designated as the remaining central steering unit. The closing of the transaction is subject to the necessary regulatory and competition approvals as well as the closing of the transaction with Aegon. Contact: VIENNA INSURANCE GROUP Investor Relations 1010 Vienna, Schottenring 30 Wolfgang Haas Head of Group Communications & Marketing, Spokesperson of the Group Phone: +43(0)50 390-21029 Fax: +43 (0)50 390 99-21029 E-Mail: wolfgang.haas@vig.com Nina Higatzberger-Schwarz Head of Investor Relations Phone: +43 (0)50 390-21920 Fax: +43 (0)50 390 99-21920 E-Mail: nina.higatzberger@vig.com All news releases are also available at http://www.vig.com/ir.
16-Feb-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com |
| Language: | English |
| Company: | VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe |
| Schottenring 30 | |
| 1010 Vienna | |
| Austria | |
| Phone: | +43(0)50 390-22000 |
| Fax: | +43(0)50 390 99-22000 |
| E-mail: | info@vig.com |
| Internet: | www.vig.com |
| ISIN: | AT0000908504 |
| WKN: | A0ET17 |
| Indices: | Wiener Börse (ATX), Prager Börse (PX) |
| Listed: | Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1281456 |
| End of Announcement | EQS News Service |
|
|
1281456 16-Feb-2022 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.