Aegon NV said it sold Transamerica Finance Corp's (TFC) maritime container leasing activities to TAL International Group Inc for US$1.2bn.
Aegon will provide interim financing of US$275m, which will be repaid within one year of closing. Aegon will use the net proceeds to redeem debt.
The maritime container leasing activities represent some US$1.1bn in assets.
Aegon announced last month that TFC is also in negotiations to sell its European trailer leasing business.
Both transactions will have no meaningful effect on shareholders' equity, the company noted.
TAL International is a newly formed company controlled by The Jordan Company, LP, a New York-based private equity firm. Investors in TAL include UK based investor Klesch & Co Ltd.
Source: AFX Europe
