15th Jan 2014 18:14
LONDON (Alliance News) - Aegon N.V., the life insurance, pensions and asset management company, is set to sell a 7.5% stake in private equity business SVG Capital PLC
Aegon said it intends to sell about 17.7 million shares in SVG Capital through an accelerated bookbuild to be orchestrated by J.P. Morgan Securities PLC.
The company's stake stands at about 40.2 million shares - 17.00% of SVG Capital - ahead of the sale.
Although Aegon is currently the third largest shareholder in SVG Capital, it looks set to fall to at least fourth, as Schroder PLC currently has a 9.02% stake in the private equity business, according to Morningstar.
SVG Capital shares Wednesday closed at 466 pence, up 7.2 pence, or 1.6%.
By Samuel Agini; [email protected]; @samuelagini
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