-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點總結如下:Aegon以20億英鎊(7.5億英鎊現金+15.3%股權)將其英國業務出售給Standard Life的交易是正面的。該交易對業務的估值為2025年預期營運收益的14.2倍(集團平均本益比為12倍),股權估值為1.9倍(集團平均本益比為1.2倍)。 2025年,Aegon英國的營運利潤貢獻為2.19億歐元(佔集團的12%),顧客滿意度貢獻為14億英鎊(佔19%),資產管理規模為2,460億英鎊(佔32%)。 Aegon的英國資產管理業務仍將是合併後實體的策略合作夥伴,合併後的新實體將成為英國最大的退休金供應商,擁有1,600萬客戶和4,800億英鎊的資產。此交易可能使Aegon的帳面價值提升約15%,同時使其2027年的收益減少5%,但所得現金可用於股票回購,進而抵銷每股收益的稀釋。 Aegon將成為Standard Life的最大股東,並獲得董事會席位。這標誌著Aegon英國策略評估的完成,加速了在美國的轉型,目標是在2028年完成公司註冊地變更,更名為Transamerica。該交易預計將於2026年底完成,但需獲得監管部門的批准。
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