AEG - Aegon to start $413M debt tender offer $330M stock buyback

Aegon (NYSE:AEG) stock is rising 2.2% in premarket trading after the insurance firm said it will offer to buy back EUR 375M ($413M) of debt and EUR 300M ($330M) of shares after it completed the sale of its Hungarian businesses for gross proceeds of EUR 620M. The sale of the Hungarian businesses completes the company's exit from Central and Eastern Europe. "Today's announcement marks an important step in the transformation of Aegon (AEG) as we narrow our strategic focus to select core and growth markets, and further strengthen our balance sheet," said CEO Lard Friese. The sale of the businesses to Vienna Insurance Group AG will boost Aegon's (AEG) cash capital at holding, which was EUR 1.3B at the end of 2021, above its stated operating range of EUR 0.5B-EUR 1.5B. After Aegon (AEG) completes the debt tender offer for six subordinated bonds, the company will have lowered its gross financial

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Aegon to start $413M debt tender offer, $330M stock buyback