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December 20, 2012
05:11 EDTSAN, AEGAegon, Banco Santander form long-term strategic partnership in Spain
Aegon has entered into an exclusive 25-year strategic partnership with Banco Santander, Spain's largest financial group, to distribute both protection and general insurance products through the group's extensive network of over 4,600 bank branches, focused on a potential client base of 12M customers. Under the terms of the agreement, Aegon will acquire a 51% stake in both a life insurance company as well as in a non-life insurance company for a consideration of EUR220M. Depending on the performance of the partnership, Aegon may pay an additional amount after five years. Furthermore, Aegon Spain will provide the back-office services to the joint venture companies. The transaction is expected to close in the first half of 2013 subject to regulatory approval and will be financed from existing resources.
News For AEG;SAN From The Last 14 Days
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April 23, 2015
15:37 EDTSANSantander, UniCredit announce merger of asset management units
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April 22, 2015
19:54 EDTSANSantander, UniCredit to merge asset management units, Reuters says
Santander (SAN) and UniCredit (UNCFF) have agreed to merge asset management units, Reuters reported earlier, citing three sources. Santander will not have direct involvement in the combined unit's operations, said the sources. Reference Link
April 15, 2015
06:41 EDTSANECB authorizes new emergency funding for Greek banks, Reuters reports
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