Dutch Insurer May Buy Thrift to Get US Bailout Funds
By Daniel at 18 November, 2008, 3:27 pm
Reuters
Tuesday, Nov 18, 2008
Dutch insurer Aegon said it may buy a small U.S. thrift company to qualify for potentially more than $1 billion in U.S. government support, sending its shares down more than 8 percent.
“This is part of our strategy to ensure Aegon has the strongest capital position possible,” said Aegon spokesman Greg Tucker. “If Aegon is eligible, we would seek the minimum range of funding possible.”
The range was 1 to 3 percent of its $125 billion in U.S. assets, he said, and the application was for the so-called Troubled Asset Relief Program (TARP) which the U.S. government has used to help banks hit by the credit crisis.
Aegon only filed an application for U.S. capital support to keep all its options open and there is no need to raise additional capital at the moment, Tucker todl CNBC.
(ARTICLE CONTINUES
http://www.infowars.net/articles/november2008/181108Dutch.htm)
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