NNGPF - Aegon starts shopping its Eastern European business - Reuters

Aegon ([[AEG]] -0.2%) puts its Eastern European arm up for sale as it seeks to conserve capital to better withstand the economic effects of the coronavirus pandemic and to focus on earnings in its core markets, Reuters reports, citing two people familiar with the matter.The Dutch insurance company has held preliminary talks with players. The unit — is primarily focused on Hungary, but also does business in Poland, Romania, and Turkey — could be valued at ~EUR 650M ($767.9M), the sources told Reuters.Dutch insurer NN Group (NNGPF) and Belgium's KBC (KBCSF) are studying potential bids for the assets, and Germany's Allianz ([[ALIZF]] +1.1%) has also expressed interest, they said.Lard Friese, who became Aegon's CEO in May and was previously CEO of NN Group, said in August he would review the company's operations in some of the 20 markets where it operates.Aegon, which owns Transamerica in the U.S., mainly focuses on

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Aegon starts shopping its Eastern European business - Reuters