BNP Paribas to acquire Fosun’s 9% stake in Ageas

A man is silhouetted as he walks behind the logo of BNP Paribas at the bank's building in Issy-les-Moulineaux, near Paris, France, February 3, 2022. REUTERS/Gonzalo Fuentes

PARIS: BNP Paribas has signed an agreement with China’s Fosun Group to acquire around a 9% stake in Belgian insurer Ageas for a sum the French bank estimates at €730mil (US$776.9mil).

Ageas and BNP Paribas are long-time partners via a joint shareholding in AG Insurance, Belgium’s leading insurer. Ageas owns 75%, and BNP owns the remaining 25%.