Aegon, a life insurance, pensions and asset management company, has acquired a 25% stake in France’s La Banque Postale Asset Management (LBPAM) for EUR112.5m.
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The deal will see a strategic partnership between the two entities, facilitating Aegon’s strategy to expand and diversify its customer base and to offer fee-based, capital-light products.
Besides, the deal also marks a key step in implementing Aegon Asset Management’s strategy to expand its services and solutions for third-party international client base.
The acquisition will help the two parties collaborate to strengthen the development of LBPAM, which offers diverse products such as international equity and multi-asset investment products.
Aegon CEO Alex Wynaendts commented: "By leveraging Aegon’s global investment expertise and La Banque Postale’s extensive distribution network, this strategic asset management partnership opens up a large market opportunity.
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By GlobalData"This will enable us to help many new customers in France secure their financial future through long-term investment solutions."
