AGEAS has EUR 3bn available for acquisitions
AGEAS (EBR:AGS), the Belgian insurer, is interested in acquisitions and has about EUR 3bn at its disposal. However, the company is not actively pursuing M&A in the Belgian financial services sector at present, AGEAS CEO Bart de Smet indicated in an interview about his work and life in De Tijd.
AGEAS would look at every company in the financial services sector in Belgium that comes onto the M&A market, De Smet said.
Asked specifically about a potential acquisition of Belgian financial services company Ethias, De Smet commented that AGEAS will be interested if Ethias is put up for sale. However, the company is not available on the market, De Smet added.
Similarly, AGEAS would look into an acquisition of Belgian state-owned bank and insurer Belfius' insurance subsidiary, De Smet said. However, the company is not yet for sale, the AGEAS CEO noted.
Investment bankers regularly approach AGEAS with M&A opportunities, as the company has about EUR 3bn at its disposal, De Smet said.
The Greek market in particular offers very interesting opportunities, De Smet noted, given the very low valuation of insurance companies there.
De Tijd