BNP Paribas Buys 9% of Ageas From Fosun for EUR730 Million
Provided by
Dow Jones
By Najat Kantouar
BNP Paribas is buying Fosun International's 9% shareholding in Belgium insurer Ageas through its insurance subsidiary BNP Paribas Cardif for 730 million euros ($776.8 million).
The French bank said on Sunday that it will buy an initial 4.8% of Ageas in the coming days, and the rest following the receipt of mandatory regulatory approvals.
The total consideration represents a marginal impact on BNP Paribas Group's Common Equity Tier 1 ratio of approximately two basis points, BNP said.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
April 15, 2024 01:51 ET (05:51 GMT)
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