NN Group N.V. (ENXTAM:NN) reached an agreement to acquire 70% stake in Heinenoord from As Holding B.V. and Qmulus Invest B.V. for approximately €180 million on July 8, 2021. As per the transaction, NN Group N.V. will also refinance the outstanding debt granted to Heinenoord for an amount of approximately €130 million. The transaction will be funded from existing cash resources. The acquisition is subject to regulatory and antitrust approvals and is expected to close at the end of 2021. The transaction is expected to have a negative impact on the NN Group N.V. Solvency II ratio. Mohammed Almarini, Koen Bos and Alexis Gavriilidis of Baker McKenzie acted as legal advisor to Qmulus Invest B.V. in the transaction.

NN Group N.V. (ENXTAM:NN) completed the acquisition of 70% stake in Heinenoord from As Holding B.V. and Qmulus Invest B.V. on October 14, 2021.