Dutch state sells more shares in insurer ASR, raises €725m
The Dutch government has raised a further €750m selling shares in nationalised insurance group ASR.
In total, the state shareholding agency NLFI sold 25 million shares in ASR for €29 per share. The sale reduces the government’s stake in in the company from 36.8% to 20.1%.
ASR, once Fortis Verzekering Nederland, was nationalised in 2008 when financial services group Fortis needed rescuing. The unit has never been in financial trouble itself and has not had any state support. The government sold its first stake in the company in June when the price was €19.50 per share.
ASR is listed on the Midkap index in Amsterdam.
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