EC approves sale of Aegon’s CEE businesses to Vienna Insurance

The European Commission (EC) has approved the €830 million sale of Dutch insurance group Aegon’s Central and Eastern European (CEE) businesses to Vienna Insurance Group Wiener Versicherung Gruppe (VIG).

The deal, which was announced in November 2020, has been granted the competition law clearance by the European regulator.

Vienna Insurance is in the process of pursuing all approvals from the relevant national authorities.

EC approves sale of Aegon’s CEE businesses to Vienna Insurance. Photo courtesy of Dimitris Vetsikas from Pixabay.

The deal includes the insurance, pension, and asset management businesses of Aegon in Hungary, Poland, Romania, and Turkey.

At the time of signing the deal, Aegon said that the sale will simplify its footprint, while strengthening its balance sheet.