An update on Aegon's sale of its Central and Eastern European business to VIG
September 21, 2021, 8:10 CEST
On September 20, 2021, Aegon and Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) were informed that the Budapest Metropolitan Court has rejected their joint appeal challenging the Hungarian Ministry of the Interior's decision to block VIG's acquisition of Aegon's Hungarian business.
VIG and Aegon regret this decision and will appeal against it before the Hungarian Supreme Court within the next 30 days.
In a press release this morning, VIG confirmed that, irrespective of the decision by the Budapest Metropolitan Court, it is "continuing the constructive dialogue with the Ministry of Finance to clarify possibilities for a positive conclusion of the acquisition."
On November 29, 2020, Aegon agreed to sell its insurance, pension, and asset management businesses in Hungary, Poland, Romania, and Turkey to VIG for EUR 830 million.