Transilvania Bank sold its 50% BT Aegon participation to the Dutch Aegon group for about 11 million euro. The transaction will be final in the second semester of the year, Aegon becoming the sole shareholder of BT Aegon.
Transilvania decided to sell its participation as part of its resource allocation, to concentrate all its efforts to increase its banking activity, a press release of the institution shows. Aegon's financial products will continue to be distributed in Romania by Transilvania Bank as the two will sign a distribution agreement.
The transaction will strengthen Aegon's position both in Romania and in the region, as the Dutch group has operations in Hungary, Poland, the Czech Republic, Slovakia and Turkey.