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Stock Market & Financial Investment News

News Breaks
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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May 14, 2015
06:57 EDTSANSources: HSBC could pick preferred bidder for Brazil unti by June, Reuters says
HSBC (HSBC) is set to receive binding offers for its Brazilian unit as early as June, at which time it may select a preferred bidder for the struggling unit, Reuters reports, citing three sources. Bids for the unit may not surpass book value, which is estimated at about $3.34B right now, the sources say, adding that Banco Bradesco (BBD), Banco Santander Brasil (SAN) and Grupo BTG Pactual had access to the unit's preliminary documents. Reference Link

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