Ageas likely to be interested in taking over Vivat (translated)
23 SEP 2018
Belgium-based insurer Ageas [EURONEXT: AGS] is interested in buying Netherlands-based peer Vivat, De Tijd reported.
The business daily cited remarks Ageas CEO Bart de Smet made at a recent investors' meeting in London.
Chinese insurance company Anbang is selling Vivat. This news service reported earlier that JPMorgan has been appointed to guide the sales process, which will probably start this year.
Ageas wants to grow outside of its current markets, the report said. De Tijd cited CEO De Smet as saying Ageas could also be interested in acquiring Belgian insurer Ethias, but that company will not be on the market before the end of 2019.
Ageas has almost EUR 2bn available for takeovers, the report noted.
Earlier Dutch press reports stated that Netherlands-based insurance companies ASR [AMS:ASRNL] and Aegon [AMS:AGN], as well as German insurance company Allianz Benelux, were also eying Vivat.
Analysts have valued Vivat at EUR 1.25 - EUR 1.75bn.