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AEGON Buys Direct Marketing Operations from J.C. Penny

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NU Online News Service, June 19, 4:15 p.m. – AEGON N.V., The Hague, The Netherlands, the parent company of AEGON USA, Inc., Baltimore, says it has completed its previously announced acquisition of J. C. Penney Direct Marketing Services, which includes life insurance units, from J.C. Penny Company, Plano, Texas, for $1.3 billion in cash.

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Under the acquisition agreement, J.C. Penney will receive annual cash payments over the next 15 years, according to J.C. Penney.