Aegon takes EUR 3 billion in state funding

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Insurer Aegon will take a EUR 3 billion investment from the Dutch government.

28 October 2008

THE NETHERLANDS - The insurer Aegon NV says it has taken a EUR 3 billion investment from the Dutch government to shore up its cash position.

Under the deal, Aegon will pay interest of at least 8.5 percent per year, but it has the right to buy out the investment if markets recover.

Separately, the company said Tuesday it expects to post a loss of around EUR 350 million in the third quarter.

[AP / Expatica]

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