Ageas turns down 'unrealistic' takeover bid from investor

Belgium-based insurance group Ageas has turned down takeover interest from an investor group, describing the offer as "highly conditional" and "not realistic". Ageas confirmed that it received a proposition from BE Group, but its board decided to reject it. The investor group is said to be backed by...

...Mark Pensaert, a member of Rabobank NA's supervisory board, and Alexandre Kartalis, an Advanced Credit Solutions director.

In response to media reports, the company said in a statement, "Ageas confirms that it was approached recently by representatives of BE Group with an indicative and highly conditional offer on Ageas.

"The Ageas Board of Directors assessed the indicative proposal but considered it not realistic and has decided not to engage."