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AEGON To Start Re-Paying Dutch State

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A European financial services company says it will exercise an option to repay about one-third of what it owes the Netherlands for helping it get through the financial crisis.

AEGON N.V., The Hague, Netherlands, owes the Dutch State about 3 billion euros, or the equivalent of about $4.5 billion.

AEGON secured the core capital contribution through its largest shareholder, Vereniging AEGON.

AEGON announced plans to repay the Dutch State in August, when it raised the equivalent of $1.5 billion through an equity issue.

AEGON will make the payment Nov. 30, and the payment will include interest accrued since May 22, the company says.

“The Dutch Central Bank has given its consent for the repayment,” AEGON says.

AEGON now has a strong excess capital position, and the economic outlook seems to have improved, according to AEGON Chief Executive Officer Alex Wynaendts.