Aegon crosses Atlantic to buy Transamerica in pounds 6.8bn deal

Friday 19 February 1999 00:02 GMT

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Aegon crosses Atlantic to buy Transamerica in pounds 6.8bn deal

AEGON, the Dutch insurer, is buying the San Francisco-based insurer Transamerica in a $10.8bn (pounds 6.8bn) deal that will make it the second-largest life insurer in the US and consolidate its position as the world's third largest insurer in terms of market capitalisation, behind AIG of the US and Germany's Allianz. In addition to paying $9.7bn in cash and shares, Aegon will take on $1.1bn in debt. The acquisition will be paid 70 per cent in stock and 30 per cent in cash.

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Aegon crosses Atlantic to buy Transamerica in pounds 6.8bn deal

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