EQS-Adhoc: Vienna Insurance Group and the Hungarian state holding Corvinus establish cooperation in Hungary

EQS-Adhoc: 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.

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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.     

 

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

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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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