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In January US-based startup Bonumose, with the assistance of ASR Group, the world's largest refiner of cane sugar, opened a new plant to produce another - tagatose - also at lower cost.

In its seven-and-half minutes, “ASR” hints at fusion jazz, Funkadelic, Ethiopian pop, reggae and psychedelia; the guitarist Jeff Parker, from Tortoise, teases the music forward.

ASR anounced in October that it would buy the bulk of Aegon's business in the Netherlands, including its local insurance activities and credit subsidiary Aegon Bank, with the deal expected to close in the second half of this year.

Aegon referred comment to ASR.

The lending business, however, is likely to be put up for sale, given ASR's previous stance on banking operations, the source said on condition of anonymity because the discussions are private.