Holland’s AEGON N.V. announced that it will issue 55 million new ordinary shares, thereby increasing its capital by around 4 percent, in order to raise an estimated $1.5 billion “to finance the acquisition of the Direct Marketing Services operations of
J.C. Penney Company, Inc.”
The amount of the issue and the funds to be raised are greater than AEGON had indicated when it agreed to purchase the J.C. Penney unit last March for $1.3 billion. Company spokesmen noted that it was simply taking this opportunity to strengthen its equity.
The new shares, which aren’t subject to preemptive rights, will be marketed through a consortium of international banks, and will not be registered with the SEC or offered for sale in the U.S.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Business Interruption Claims Arising From the Middle East Conflict 
Are ‘Moderate’ Hurricanes Getting Squeezed Out of the Atlantic? 
State Farm Paid a ‘Hail’ of a Lot of Claims in 2025 
Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model 
