Clifford Chance

Clifford Chance advises the underwriters on Aegon's €700 million selldown in a.s.r.

Global law firm Clifford Chance has advised the underwriters on Aegon's successful €700 million selldown in ASR Nederland ('a.s.r.'), through an accelerated bookbuild offering of 12.5 million shares to qualified institutional investors, representing approximately 6% of a.s.r.'s share capital. J.P. Morgan, Barclays, Goldman Sachs acted as Joint Global Coordinators, and ABN AMRO, BNP Paribas, Citigroup, Deutsche Bank and ING acted as Joint Bookrunners.

As part of the transaction, a.s.r. has repurchased 1,875,000 shares at the same price per share, for a total consideration of approximately €105 million. The transaction was settled on September 5, 2025. Following completion of the transaction, Aegon’s shareholding in a.s.r. will reduce from 29.96% to approximately 24% of a.s.r.’s share capital. Read more about it here.

The Clifford Chance team was led by Han Teerink and further consisted of Marina Sarkisjan (Global Financial Markets) and Robert Bulte (Corporate) in Amsterdam, as well as Olivier Plessis advising on US securities laws aspects out of the Paris office.