Dutch group Aegon, in the race for Asiban again

Dutch group Aegon has again shown interest in Asiban, and is conducting a due diligence process, after having withdraw from the race to take over the insurer at the beginning of last month, sources on the market say. Aegon thus joins the list of companies that could submit a binding offer for the acquisition of 100% in Asiban; a list which also includes AXA, Groupama, Generali, Uniqa, Fondiaria and Eureko. The date stipulated for binding offers, March 6, has been extended by around a week. The shareholders of Asiban, one of the largest companies on the local market, are BCR, BRD-SocGen, Banca Transilvania and CEC (The Romanian Savings Bank). The banks are advised in the sales process by the European investment bank Rothschild, and by law firm Tuca Zbarcea & Asociatii (Tuca Zbarcea & Partners). Asiban has not yet published its financial results for 2007. In the first nine months of last year, the company posted gross underwritten premiums worth 445 million RON, up 35% on 2006.