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/Ryoji Iwata from Unsplash
BNP Paribas to acquire Fosun’s 9% stake in Ageas for $774m
The acquisition will be done in two tranches.
BNP Paribas Group is set to acquire approximately 9% of Fosun Group’s stake in Ageas for approximately $774.44m (EUR730m).
The acquisition will be performed in two tranches, with the group acquiring 4.8% of the issued shares in the coming days and the balance following the receipt of mandatory regulatory approvals.
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The group, through BNP Paribas Fortis, has partnered with Ageas through AG Insurance (AGI). The acquisition will not modify any term of both parties’ partnership.
The acquisition will be done through BNP Paribas Cardif, an insurance subsidy of the group.
(EUR1 = $1.0)
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