Life insurer and pension provider AEGON is to acquire Rotterdam-based OPTAS, a Dutch life insurance company specialising in employee benefit products and services. The net consideration for AEGON of this transaction is approximately 100 million.
AEGON will acquire OPTAS for a gross amount of approximately 1.3 billion. Taking into account the excess capital of OPTAS, the net consideration is estimated to be approximately 100 million. A portion of the shareholders’ equity of OPTAS is subject to restrictions as set out in the articles of association of the company. These restrictions assure continued fulfillment of existing policy obligations and will remain in force after the acquisition.
Upon completion of the transaction, OPTAS will become a subsidiary of AEGON The Netherlands. The transaction is not anticipated to lead to forced redundancies.
“OPTAS is a life insurer with a unique position in the Dutch ports,” says Johan van der Werf, the CEO of AEGON The Netherlands. “I am proud that this company will become part of AEGON. We would like to leverage the pension expertise of OPTAS in close cooperation with AEGON The Netherlands to further strengthen the two companies’ pension activities. OPTAS’ customers can be confident that, working together, AEGON and OPTAS will continue to manage their pension businesses to the highest possible standards.”
“A few years ago, we determined that OPTAS would have to find a partner with a strong position in the group pension business,” adds Pieter Rietbergen, the Managing Director of OPTAS. “AEGON is a financially strong and leading pension provider. Its broad distribution capabilities and good relationships within the IFA channel were additional important considerations for OPTAS. I believe this transaction will ensure the long-term development of our business.”