Aegon NV (AEG,AGN.L) said it sold funeral insurance business in the Netherlands to Dutch investment firm Egeria for EUR 212 million.
The company noted that the sale is the result of its ongoing portfolio review of its businesses, as announced in June 2008. The sale of subsidiary AEGON NabestaandenZorg will have a positive effect on AEGON's excess capital position.
As per the agreement, the nineteen employees affected by the sale will retain their jobs, as well as maintain similar employment conditions. Further, the company will continue the operations under the name 'AXENT'.
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