Aegon Buys Mercer's US Defined Contribution Record-Keeping Business
25 September 2015 - 4:52PM
Dow Jones News
By Ian Walker
Dutch insurance firm Aegon NV (AGN.AE) said Friday it is buying
Mercer HR Services, LLC's U.S. defined contribution administration
book of business in a deal that adds $71 billion to its assets
under administration.
Aegon said it is buying the assets through an affiliate of its
Transamerica unit and expects the deal to complete in the fourth
quarter of this year, subject to regulatory approval. It isn't
expected to have a material positive effect on Aegon's earnings in
2016.
Aegon didn't disclose how much it was paying for the
business.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
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(END) Dow Jones Newswires
September 25, 2015 02:37 ET (06:37 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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