Wednesday, January 7, 2009

AEGON to Acquire Banca Transilvania's 50% shareholding in BT AEGON

(RTTNews) - AEGON (AEG: News ) announced that it has agreed to acquire Banca Transilvania's 50% shareholding in BT AEGON for about EUR 11 million giving the company a full control of the jointly owned Romanian pension business.

As part of the transaction, the AEGON and Banca Transilvania would sign a distribution agreement covering both life insurance and pension products.

The company also said that BT has decided to sell its stake to AEGON in order to focus on its core banking activities.

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