ageas SA/NV (AGESY) M&A Call Transcript

Hans J. De Cuyper CEO & Executive Director Thank you, Veerle. Good morning, ladies and gentlemen, and thank you for joining us on this call. Today, I'm pleased to announce that we have reached an agreement with our long-standing partner, Maybank in Malaysia, to sell our 31% stake in Etiqa to them. After more than 25 years of close collaboration with Maybank, having created a national insurance champion in Malaysia, we have jointly decided that now is the right moment to conclude our journey and for Maybank to take over full ownership of Etiqa. At the successful collaboration it has been as the terms of the transaction show, we are able to monetize the value that we have created together over the last 25 years, providing us with EUR 1.1 billion of cash proceeds. I would like to take a