Aegon to Sell U.K. Insurance Unit to Standard Life for $2.7 Billion
Aegon, owner of Transamerica, has agreed to sell its U.K. insurance unit to Standard Life for £2.0 billion ($2.71 billion), as it focuses on its U.S. operations. The deal includes a 15.3% stake in Standard Life and £750 million in cash. Aegon plans to use the proceeds to reduce debt and execute share buybacks.
Topics: Corporate Strategy Debt Reduction Insurance Industry Mergers and Acquisitions Share Buybacks