a.s.r. Nederland books multiple times oversubscribed: terms

a.s.r. Nederland books multiple times oversubscribed: terms

Aegon Ltd. has announced its intention to sell approximately 12.5 million ordinary shares in ASR Nederland N.V. (a.s.r.), representing around 6% of the latter's ordinary share capital. The transaction, which is expected to decrease Aegon's shareholding in a.s.r. from 29.96% to approximately 24%, is set to be completed through an accelerated bookbuild offering to qualified institutional investors [1].

The offering is structured such that a.s.r. will repurchase 15% of the total offering size, up to EUR 150 million worth of shares, from Aegon at the offer price. These shares will be cancelled by a.s.r. in due course. The sale is subject to a lock-up period of 180 calendar days following the settlement date, with customary carve-outs. The use of proceeds from the sale will be managed under Aegon's capital management framework, with the aim of reducing its Cash Capital at Holding to around EUR 1.0 billion by the end of 2026 [1].

The bookbuild process is open with immediate effect and is expected to close on September 3, 2025, with the transaction settling on September 5, 2025. The offer price and final number of shares sold will be determined by Aegon and announced in a separate press release. J.P. Morgan, Barclays, and Goldman Sachs are acting as Joint Global Coordinators for the offering [1].

a.s.r. will not receive any proceeds from the offering, and the transaction is expected to settle on September 5, 2025. The offering is subject to regulatory restrictions, including the U.S. Securities Act, and is limited to qualified institutional buyers and qualified investors in various jurisdictions [1].

References:

[1] https://finance.yahoo.com/news/aegon-sell-approximately-12-5-153500896.html