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NN Group en Delta Lloyd bereiken overeenstemming over aanbevolen transactie

Den Haag, 23 december 2016

This is a joint press release by NN Group N.V. (‘NN Group’) and Delta Lloyd N.V. (‘Delta Lloyd’), pursuant to the provisions of Section 4 Paragraph 3, Section 5 Paragraph 1 and Section 7 Paragraph 4 of the Decree on Public Takeover Bids (Besluit Openbare Biedingen Wft) (the ‘Decree’) in connection with the intended public offer by NN Group for all the issued and outstanding ordinary shares in the capital of Delta Lloyd. This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities. Any offer will be made only by means of an offer memorandum. This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, the United States, Canada or Japan or in any other jurisdiction in which such release, publication or distribution would be unlawful.

Dit is een vertaling van een gedeelte van het gezamenlijke persbericht. In het geval van strijdigheid met de originele Engelse tekst, heeft de Engelse tekst voorrang boven de vertaling.

Creatie van een leidende verzekeraar en asset manager in Nederland

  • NN Group en Delta Lloyd hebben voorwaardelijke overeenstemming bereikt over een aanbevolen openbaar bod van EUR 5,40 (cum dividend) in contanten per geplaatst en uitstaand gewoon aandeel Delta Lloyd, waarmee het bod een totale som van EUR 2,5 miljard vertegenwoordigt
  • De transactie wordt gesteund en aanbevolen door de Raad van Bestuur en de Raad van Commissarissen van Delta Lloyd
  • De biedprijs vertegenwoordigt een premie van 55% ten opzichte van de gemiddelde slotkoers over de drie maanden voorafgaand aan de initiële aankondiging op 5 oktober 2016, waarmee een onmiddellijke en zekere waarde voor Delta Lloyd aandeelhouders wordt geboden
  • De biedprijs vertegenwoordigt een premie van 55% ten opzichte van de gemiddelde slotkoers over de drie maanden voorafgaand aan de initiële aankondiging op 5 oktober 2016, waarmee een onmiddellijke en zekere waarde voor Delta Lloyd aandeelhouders wordt geboden
  • NN Group verwacht een return on investment van ongeveer 10% en een dubbelcijferige toename van het dividend per aandeel voor 2018 en daarna
  • Robuuste gecombineerde balans, en een solide 3Q16 pro forma Solvency II ratio van ongeveer 189%
  • NN Group beschikt over de benodigde financieringsmiddelen en zal het bod financieren door een combinatie van bestaande middelen en schuld
  • Uiterlijk 28 december 2016 zal een concept biedingsbericht ter goedkeuring bij de AFM worden ingediend

Meer informatie is te vinden in het uitgebreide Engelstalige persbericht op NN-group.com.


General restrictions
This announcement is for information purposes only and does not constitute an offer or an invitation to acquire or dispose of any securities or investment advice or an inducement to enter into investment activity. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire the securities of Delta Lloyd or NN Group in any jurisdiction.

The distribution of this press release may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, NN Group disclaims any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither NN Group, nor any of its advisors assumes any responsibility for any violation by any person of any of these restrictions. Any shareholder who is in any doubt as to its position should consult an appropriate professional advisor without delay. This announcement is not to be published or distributed in or to the United States, Canada or Japan.

Important legal information
All figures in this document are unaudited. Small differences are possible in the tables due to rounding. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation: (1) changes in general economic conditions, in particular economic conditions in NN Group’s and Delta Lloyd’s core markets, (2) changes in performance of financial markets, including developing markets, (3) consequences of a potential (partial) break-up of the euro, (4) changes in the availability of, and costs associated with, sources of liquidity as well as conditions in the credit markets generally, (5) the frequency and severity of insured loss events, (6) changes affecting mortality and morbidity levels and trends, (7) changes affecting persistency levels, (8) changes affecting interest rate levels, (9) changes affecting currency exchange rates, (10) changes in investor, customer and policyholder behaviour, (11) changes in general competitive factors, (12) changes in laws and regulations, (13) changes in the policies of governments and/or regulatory authorities, (14) conclusions with regard to accounting assumptions and methodologies, (15) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, (16) changes in credit and financial strength ratings, (17) NN Group’s ability to achieve projected operational synergies and (18) the other risks and uncertainties detailed in the Risk Factors section contained in recent public disclosures made by NN Group or Delta Lloyd.

Any forward-looking statements made by or on behalf of NN Group or Delta Lloyd speak only as of the date they are made, and, NN Group or Delta Lloyd assume no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

This document does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States or any other jurisdiction.