Van Lanschot Kempen sells stake in Van Lanschot Chabot | Mandema & Partners
19 Februar 2019 - 8:30AM
Amsterdam/'s-Hertogenbosch, the
Netherlands, 19 February 2019
Today, Van Lanschot Kempen announced it has
reached agreement on the sale to De Goudse Verzekeringen of its 49%
stake in Van Lanschot Chabot | Mandema & Partners (VLCMP). This
transaction fits in with Van Lanschot Kempen's strategic focus on
wealth management, and is expected to be completed in the first
half of 2019. It should generate a book profit of around €15
million, and possibly also come with a minor earn-out in the first
half of 2020.
In 2017 and in the first half of 2018, VLCMP
contributed -€0.4 million and €1.5 million respectively to Van
Lanschot Kempen's net profit (IFRS). The sale has only a limited
positive impact on the CET 1 ratio.
VLCMP is a Dutch intermediary in the field of risk
management, absenteeism, pensions and private insurance, and also
provides insurance solutions to Van Lanschot Kempen's private
banking clients. VLCMP has developed well in the past few years and
its 2016 takeover of Mandema & Partners has significantly
enhanced its market position.
At this point, De Goudse Verzekeringen holds 51%
of the shares in VLCMP, and it will own the company outright after
the transaction completes. Van Lanschot Kempen and VLCMP will
continue to collaborate on the services provided to private banking
clients.
FINANCIAL CALENDAR
21 February 2019
Publication of 2018 annual figures
28 February
2019
Publication of 2018 annual report
24 April
2019 Publication
of Q1 trading update
22 May
2019 Annual
General Meeting
Media Relations: +31 20 354 45 85; mediarelations@vanlanschotkempen.com
Investor Relations: +31 20 354 45 90; investorrelations@vanlanschotkempen.com
About Van Lanschot Kempen
Van Lanschot Kempen, a wealth manager operating
under the Van Lanschot, Evi and Kempen brand names, is active in
Private Banking, Asset Management and Merchant Banking, with the
aim of preserving and creating wealth for its clients. Van Lanschot
Kempen, listed at Euronext Amsterdam, is the Netherlands' oldest
independent financial services company with a history dating back
to 1737.
vanlanschotkempen.com
Disclaimer and cautionary note on
forward-looking statements
This press release
provides information on Van Lanschot Kempen NV and Van Lanschot NV
as meant in Articles 7 (1) up to and including (4) of EU Regulation
596/2014.
This document does not constitute an offer or
solicitation for the sale, purchase or acquisition in any other way
or subscription to any financial instrument and is not an opinion
or a recommendation to perform or refrain from performing any
action.
This press release may contain forward-looking
statements on future events and developments. These forward-looking
statements are based on the current insights, information and
assumptions of Van Lanschot Kempen's management about known and
unknown risks, developments and uncertainties. Forward-looking
statements do not relate strictly to historical or current facts
and are subject to such risks, developments and uncertainties which
by their very nature fall outside the control of Van Lanschot
Kempen and its management.
Actual results, performances and circumstances may
differ considerably from these forward-looking statements as a
result of risks, developments and uncertainties relating to, but
not limited to, (a) estimates of income growth, (b) costs, (c) the
macroeconomic and business climate, (d) political and market
trends, (e) interest rates and currency exchange rates, (f)
behaviour of clients, competitors, investors and counterparties,
(g) the implementation of Van Lanschot Kempen's strategy, (h)
actions taken by supervisory and regulatory authorities and private
entities, (i) changes in law and taxation, (j) changes in ownership
that could affect the future availability of capital, and (k)
changes in credit ratings.
Van Lanschot Kempen cautions that forward-looking
statements in this press release are only valid on the specific
dates on which they are expressed, and accepts no responsibility or
obligation to revise or update any information, whether as a result
of new information or for any other reason.
The financial data in this press release are
unaudited.
This document is a translation of the Dutch
original and is provided as a courtesy only. In the event of any
disparities, the Dutch version will prevail. No rights can be
derived from the translated document.
Press release VLCMP
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Van Lanschot Kempen via Globenewswire
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