BNP Paribas buys 9% Ageas stake from Fosun Group for €730M, not affecting current partnership.
BNP Paribas has agreed to purchase a 9% stake in Belgian insurer Ageas from Chinese conglomerate Fosun Group for approximately €730 million ($776.87 million). The deal, expected to be completed in two tranches, will not impact BNP Paribas' existing partnership with Ageas via AG Insurance. Fosun plans to use the proceeds from the sale to streamline its portfolio and focus on core businesses.
April 14, 2024
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