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VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe
ISIN: AT0000908504
WKN: A0ET17
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VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe · ISIN: AT0000908504 · Newswire (adhoc)
Country: Österreich · Primary market: Austria · EQS NID: 1281456
16 February 2022 17:22PM

Vienna Insurance Group and the Hungarian state holding Corvinus establish cooperation in Hungary


EQS-Ad-hoc: VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe / Key word(s): Miscellaneous
Vienna Insurance Group and the Hungarian state holding Corvinus establish cooperation in Hungary

16-Feb-2022 / 17:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe ("VIG") and the Hungarian state Holding Corvinus Nemzetközi Befektetési Zrt. ("Corvinus") have agreed on the details of their cooperation which had been broadly defined in the Memorandum of Understanding dated December 23, 2021. Under the cooperation, Corvinus is to acquire a 45% participation in the Hungarian VIG companies.

The Hungarian VIG companies will be held through the Hungarian VIG holding company (VIG Magyarország Befektetési Zrt.) and two Dutch holding companies (Aegon Hungary Holding B.V. and Aegon Hungary Holding II B.V.). Corvinus will acquire a non-controlling minority interest of 45% in each of these three holding companies. The agreed purchase price for the three 45% participations in these holding companies amounts to about EUR 350 million.

98.64% of the shares of UNION Vienna Insurance Group Biztosító Zrt. will be contributed to the Hungarian VIG holding company. The two Dutch Aegon holding companies hold 100% of the shares in the Hungarian Aegon companies (insurance, asset management, pension fund and service companies). VIG will retain a controlling majority interest of 55% in these three holding companies. In a next step, it is planned to merge the three holding companies whereby the Hungarian VIG holding company is designated as the remaining central steering unit.

The closing of the transaction is subject to the necessary regulatory and competition approvals as well as the closing of the transaction with Aegon.



Contact:
VIENNA INSURANCE GROUP
Investor Relations
1010 Vienna, Schottenring 30

Wolfgang Haas
Head of Group Communications & Marketing, Spokesperson of the Group
Phone: +43(0)50 390-21029
Fax: +43 (0)50 390 99-21029
E-Mail: wolfgang.haas@vig.com

Nina Higatzberger-Schwarz
Head of Investor Relations
Phone: +43 (0)50 390-21920
Fax: +43 (0)50 390 99-21920
E-Mail: nina.higatzberger@vig.com


All news releases are also available at http://www.vig.com/ir.     

 

16-Feb-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com


Language: English
Company: VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe
Schottenring 30
1010 Vienna
Austria
Phone: +43(0)50 390-22000
Fax: +43(0)50 390 99-22000
E-mail: info@vig.com
Internet: www.vig.com
ISIN: AT0000908504
WKN: A0ET17
Indices: Wiener Börse (ATX), Prager Börse (PX)
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1281456

 
End of Announcement EQS News Service

1281456  16-Feb-2022 CET/CEST

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