a.s.r. to repurchase up to € 150 million own shares as part of Aegon’s selldown
ASR Nederland N.V. (a.s.r.) is committed to participate in the partial selldown of Aegon Ltd’s (Aegon) position in a.s.r. Today, Aegon announced that it intends to sell approximately 12.5 million shares or circa 6% of the total outstanding shares of a.s.r. in an accelerated bookbuild offering. a.s.r. commits to participate for 15% in the selldown up to a maximum of € 150 million, within the authorisation provided by the Annual General Meeting (AGM) and delivering on its commitment to support selldowns by Aegon.
At the capital markets day in June 2024 a.s.r. announced its strategy for the plan period 2024-2026. In addition to deploying capital in profitable growth, this plan entails the deployment of capital in repurchasing own shares in case of a selldown initiated by Aegon. a.s.r. already indicated in an earlier stage that it intends to participate in selldowns by Aegon for 10-15% of the amounts offered.
The participation in this first selldown will be supplementary to a.s.r.’s existing share buyback programme of € 525 million for the 2024-2026 plan period. a.s.r. intends to fund the participation in any next selldown through an acceleration of this existing buyback programme.
The intended repurchase up to a maximum of € 150 million represents 2.5%-point impact on a.s.r.’s Solvency II ratio, which amounted to 203% at 30 June 2025. a.s.r. will fund the repurchase from existing resources. a.s.r. intends to propose cancellation of the repurchased shares at the next AGM. The share buyback falls within the authorisation of the AGM of a.s.r., granted to the Executive Board.
Jos Baeten, CEO a.s.r.: ‘As we embark on the final phase of the integration and deliver on the realisation of the benefits of the business combination, the selldown by Aegon marks an important step. Our decision to participate at the upper end of the announced range reflects our commitment to the market to facilitate a successful first step of Aegon’s selldown. This reflects our confidence in a.s.r.’s potential for long-term value creation. We remain grateful for Aegon’s continued support as a shareholder, while we welcome other investors to support a.s.r. through continued investments.’
Under the terms of the relationship agreement between Aegon and a.s.r., a selldown by Aegon below certain thresholds may trigger changes to governance rights. The current sell down will not impact the existing governance arrangements.
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