See accounting policy N.

Acquisitions 2022

Wind farms Jaap Rodenburg, Nieuwe Hemweg and Strekdammen and solar park Pesse

In 2022, ASR Infrastructure Renewables B.V. completed the acquisitions of the assets and liabilities of wind farm Jaap Rodenburg, wind farm Nieuwe Hemweg, wind farm Strekdammen and solar park Pesse for a total consideration of € 50 million.

With these acquisitions, a.s.r. strengthens its contribution to the energy transition and sustainable living environment. a.s.r. fully included the results and the balance sheet positions in the a.s.r. consolidated financial statements from the acquisition dates.

No cash and cash equivalents were acquired.

The a.s.r. Solvency II ratio is not significantly impacted as a result of the acquisition.

Aegon Nederland

In October 2022, a.s.r. announced the intended business combination between a.s.r. and Aegon Nederland N.V. by acquiring the shares of Aegon Nederland N.V. for a total consideration of € 4.9 billion. The consideration will be paid out in newly issued ordinary shares to Aegon N.V. (29.99% interest in a.s.r. post-transaction) and a cash consideration of € 2.5 billion which was funded through existing surplus capital, by offering 13.805.720 new ordinary shares (see chapter 6.5.13.1) and the issuance of a Tier 2 subordinated liability of € 1.0 billion in November 2022 (see chapter 6.5.14). The cash component was reduced by € 0.3 billion compensating for the additional 5.9 million shares to be issued to Aegon N.V. following an adjustment mechanism in relation to the issuance of the accelerated bookbuild offering shares.

At 17 January 2023, shareholders approved the business combination of a.s.r. and Aegon Nederland N.V. The transaction is further subject to approval of the Dutch Central Bank, the European Central Bank and the Dutch Authority for Consumers and Markets. a.s.r. and Aegon N.V. are working closely together to comply with the conditions for the completion of the transaction.

The acquisition of Aegon Nederland N.V. is expected to be completed in the second half of 2023 and has not been recognised in the 2022 financial statements.

Other acquisitions

ASR Real Estate B.V. acquired the assets and liabilities of a consultancy company as of 1 May 2022. In addition, VKG acquired a distribution and services company as of 1 July 2022.

Acquisitions 2021

Brand New Day IORP

On 1 April 2021, a.s.r. acquired the remaining 50% of outstanding shares of Brand New Day Premiepensioeninstelling N.V. (Brand New Day IORP). a.s.r. established the final acquisition balance sheet of Brand New Day IORP in 2021. On 29 March 2022, Brand New Day IORP changed its name to ASR Premiepensioeninstelling N.V. (a.s.r. PPI).

Wind farm Wieringermeer

On 23 December 2021, ASR Infrastructure Renewables B.V. acquired the assets and liabilities of Vattenfall Windpark Wieringermeer Ext B.V. (wind farm Wieringermeer).

Other acquisitions

In 2021, Van Kampen Group Holding B.V. acquired an entity in the Distribution and Services segment and established the final acquisition balance sheet in 2022.