Aegon buys into Santander's Spanish insurance operations

AMSTERDAM Thu Dec 20, 2012 8:16am GMT

The head office of Dutch financial insurance company Aegon is seen in The Hague, October 28, 2008. REUTERS/Stringer

The head office of Dutch financial insurance company Aegon is seen in The Hague, October 28, 2008.

Credit: Reuters/Stringer

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AMSTERDAM (Reuters) - Dutch insurer Aegon (AEGN.AS) said on Wednesday it is to form a joint venture with Spain's Banco Santander (SAN.MC), spending 220 million euros (179 million pounds) to take 51 percent stakes in life and non-life insurance companies with a view to distributing its products through the Spanish bank's branches.

(Reporting by Gilbert Kreijger; Editing by Greg Mahlich)

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