Merger of IC "TAS" and "Aegon Life Ukraine"

Aegon Life Ukraine shareholders will consider the issue of terminating the insurance company by merging with TAS at an extraordinary general meeting on February 10, 2017. In addition, the agenda includes the issue of creating a termination commission, defining its powers, and electing its personnel. The issues of the procedure and terms of buying back shares from shareholders who voted against the decision to terminate the company, the terms of exchanging shares of IC Aegon Life Ukraine for shares of IC TAS, and the terms and procedure for satisfying creditors' claims against IC Aegon Life Ukraine will also be considered.

According to official information from IC TAS, its shareholders at an extraordinary general meeting will consider the issue of joining IC Aegon Life Ukraine and approving the procedure for buying back shares from shareholders who voted against the decision to join the IC.

As reported, TAS Group intends to merge the business of PrJSC IC Aegon Life Ukraine with its own business in the life insurance segment under the TAS Life brand. Such a merger will allow the formation of a player that will occupy the second position in the Ukrainian life insurance market.

In September 2016, the international insurance group Aegon (The Hague, the Netherlands) announced the sale of 100% of the shares of the IC "Aegon Life Ukraine" to the insurance group TAS Group of the former Deputy Prime Minister for Social Policy Serhiy Tigipko and the exit from the Ukrainian market.

By an order dated December 22, 2016, the National Commission for Financial Services approved the indirect acquisition of 99.99% of the authorized capital of the IC "Aegon Life Ukraine". On December 6, 2016, the Commission approved the purchase of 99.377% of the shares of the IC by TAS Group. The Antimonopoly Committee of Ukraine granted S. Tigipko permission to indirectly purchase shares of the insurance company through T.A.S. Overseas investments Limited.

According to the insurer's official information, T.A.S. Overseas Investments Limited (Cyprus) became the owner of 99.37703% of its authorized capital (46.732 million shares).

Source: forinsurer.com