Utrecht,
16
February
2015
|
00:00
Europe/Amsterdam

a.s.r. decides not to bid for VIVAT/REAAL

Summary

Today, Minister of Finance Dijsselbloem informed the Dutch Parliament of developments in the selling process of VIVAT/REAAL. It is public knowledge that, over the past months, also a.s.r. has explored options for combining its business with that of VIVAT/REAAL. After due deliberation, a.s.r. has decided not to submit a binding offer for VIVAT/REAAL. This means that, over the coming period, a.s.r. will continue to prepare itself for a future in private hands, in dialogue with its shareholder NLFI. The Minister of Finance will keep the Parliament informed of any developments in this regard.

Jos Baeten, CEO of a.s.r.: ‘Last year, the Minister decided to postpone the dual-track approach to a.s.r.’s privatization to allow us to explore whether or not we wanted to submit a bid for VIVAT/REAAL. Together with a consortium of investors, which had been formed for the purpose of funding a potential acquisition, we thoroughly analyzed every aspect of a possible bid. Based on our findings, we decided not to submit a final bid for VIVAT/REAAL.’

‘We have always taken the view that we will seriously consider all opportunities for consolidation within the Dutch insurance market. That said, we are confident that we are perfectly capable of executing our strategy on our own. In dialogue with NLFI, we will now continue to prepare for a.s.r.’s privatization. Over the coming period, we will consult with the shareholder to decide on a time schedule leading up to the privatization within the parameters of the dual-track approach that the Minister of Finance shared with the Dutch Parliament earlier.’

‘Our guiding principle in this process remains that we will continue on the same path in terms of our strategy, positioning, corporate culture and business practices, and that we will make a.s.r. as strong as possible to bring about its successful return to the private market, in whatever form.’