Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Ageas SA/NV    AGS   BE0974264930

AGEAS SA/NV

(AGS)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

ageas / : Sells Its Stake in Tesco Underwriting to Tesco Bank for GBP104 Million

10/14/2020 | 03:13am EST

By Matteo Castia

Ageas NV said Wednesday that it has sold its 50.1% stake in Tesco Underwriting Ltd. to British grocer Tesco PLC's banking business Tesco Personal Finance PLC.

The Belgian insurer said Tesco Bank will pay a consideration of 104 million pounds ($134.5 million) plus Ageas's part of any change in the net asset value realized by Tesco Underwriting from June 30 until deal completion, which is expected in the second quarter of next year.

Additionally, Ageas will receive a reimbursement of an internal loan for an amount of GBP21 million, it said.

Tesco Underwriting is a U.K.-based nonlife joint venture between Ageas's U.K. business and Tesco Bank, providing motor and household insurance to the U.K. market. The partnership was set up in 2009 and was extended for seven more years at the end of 2014.

"The transaction is expected to generate a capital gain of approximately 9 million euros [$10.6 million] and to have a positive impact of around 3% on Ageas's solvency position," Ageas said.

For Ageas' part, Tesco Underwriting had a book value of EUR100 million as of June 30 and generated a net profit of EUR13 million in 2019.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

10-14-20 0312ET

Stocks mentioned in the article
ChangeLast1st jan.
AGEAS SA/NV -0.26% 41.85 Delayed Quote.-20.56%
TESCO PLC 0.04% 227.8 Delayed Quote.-10.74%
All news about AGEAS SA/NV
11/25AGEAS / : EU insurance watchdog under pressure to scrap blanket dividend ban
RE
11/24AGEAS AND BLACKROCK : Transparency notification
AQ
11/13GLOBAL MARKETS LIVE: Washington vs Beijing, Farfetch beats expectations…
11/13AGEAS / : reports on third quarter results 2020
AQ
11/13AGEAS SA/NV : Press Release
CO
11/13AGEAS SA/NV : 3rd quarter results
CO
11/10AGEAS SA/NV : quaterly earnings release
11/10AGEAS SA/NV : Admission of new securities
CO
11/09AGEAS AND GOLDMAN SACHS : Transparency notification
AQ
11/09AGEAS SA/NV : Admission of new securities
CO
More news
Financials
Sales 2020 7 620 M 9 122 M 9 122 M
Net income 2020 1 167 M 1 396 M 1 396 M
Net Debt 2020 73,0 M 87,4 M 87,4 M
P/E ratio 2020 6,66x
Yield 2020 6,32%
Capitalization 7 826 M 9 357 M 9 369 M
EV / Sales 2020 1,04x
EV / Sales 2021 1,07x
Nbr of Employees 10 741
Free-Float 90,2%
Chart AGEAS SA/NV
Duration : Period :
ageas SA/NV Technical Analysis Chart | AGS | BE0974264930 | MarketScreener
Technical analysis trends AGEAS SA/NV
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 44,58 €
Last Close Price 41,85 €
Spread / Highest target 31,4%
Spread / Average Target 6,53%
Spread / Lowest Target -21,1%
EPS Revisions
Managers
NameTitle
Hans de Cuyper Chief Executive Officer
Bart Karel de Smet Chairman
Christophe Boizard Chief Financial Officer & Executive Director
Guy Jacques Marie de Selliers de Moranville Vice Chairman
Lionel Perl Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
AGEAS SA/NV-20.56%9 357
BB SEGURIDADE PARTICIPAÇÕES S.A.-21.96%11 074
TALANX AG-30.15%9 323
GRUPO CATALANA OCCIDENTE, S.A.-11.72%3 878
VIENNA INSURANCE GROUP AG-23.23%3 006
UNIQA INSURANCE GROUP AG-31.39%2 305