Ageas has agreed to sell its Life insurance business in Hong Kong to JD Capital for HKD10,688m (€1,230m). The transaction is expected to be completed within H1 16. Based on H1 15 figures and still subject to closing adjustments, the transaction is expected to have an impact on the net result of around €0.45bn at the time of closing. Management announced that despite this transaction, the company remains firmly committed to Asia and will further strengthen its business in the region
31 Aug 2015
Goodbye Hong Kong
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Goodbye Hong Kong
ageas SA/NV (AGS:WBO) | 0 0 0.6% | Mkt Cap: 8,608m
- Published:
31 Aug 2015 -
Author:
Bassem Neifer -
Pages:
2
Ageas has agreed to sell its Life insurance business in Hong Kong to JD Capital for HKD10,688m (€1,230m). The transaction is expected to be completed within H1 16. Based on H1 15 figures and still subject to closing adjustments, the transaction is expected to have an impact on the net result of around €0.45bn at the time of closing. Management announced that despite this transaction, the company remains firmly committed to Asia and will further strengthen its business in the region