Further, Vereniging Aegon, the company's largest stakeholder agreed to cancel all preferred share holdings. If approved by shareholders, this move will simplify AEGON 's capital structure. AEGON will end its life, health and pension joint venture with Unnim Banc. Consequently, it will divest its 50% holding to Unnim for $481.5 (EUR 353) million, resulting in an estimated book gain of approximately $143 (EUR 105) million before tax. This divestiture will also produce 12% annual return on investment. Nevertheless, AEGON sticks to its long-term commitment to Spain. It partnered with Banco Santander to provide life and general insurance products via its 4,600 bank branches. Through this 25-year partnership, AEGON can gain access to a prospective 12 million clientele. Moreover, Aegon will buy 51% stake in both a life insurance company and non-life insurance company for $291.5 (EUR 220) million.