NN Group : Selling price NN asset management in line, NN model adjusted for this
>Conclusion: NN IP sale no impact on target price - The divestment of NN asset management price was in line with expectations. On the allocation/return to shareholders they will decide at the FY21 results. We move the € 1.7bn asset management part to the excess capital line in our SOTP and keep the TP unchanged at € 54 and keep out outperform recommendation.Selling price for NN asset management in line - Price for 100% of NN IP is € 1.7bn (€ 1.5bn bas...NN Group is a financial services company based in the Netherlands. Co. engages in insurance and investment management activities, providing life and non-life insurance products primarily in the Netherlands, Belgium, rest of Europe, and Asia. Co. offers group and individual life insurance; and motor, transport, fire, liability, travel, and income insurance. Co. also offers retirement, insurance, investments, and banking services to retail, SME, corporate, and institutional customers. Co. is active in 18 countries, with a presence predominantly in a number of European countries and Japan.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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