Aegon to sell iconic San Francisco

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Aegon to offer renowned San Francisco “Pyramid”

Dutch insurance provider Aegon NV claimed Thursday that it has actually accepted offer the “Pyramid”, a legendary San Francisco structure facility, for $650 million in order to improve its solvency, according to a Reuters record.

Aegon claimed the buyer was a joint endeavor headed by property designer Michael Schvo.

The structure, likewise referred to as the Transamerica structure, will certainly continue to be on the logo design of Aegon’s United States Transamerica insurance policy service, Reuters reported.

“Transamerica had this building built and owned it since its completion in 1972,” claimed Lard Friese, Chief Executive Officer of Aegon. “I’m proud that we will remain associated with this iconic building, as we will retain the name and brand rights.”

Aegon claimed the sale would certainly lead to a 4% increase to its solvency under Europe’s Solvency II program.

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