Brief: Ageas To Hold 10% Of Enlarged Share Capital Of Taiping Pension Co

China Taiping Insurance Holdings

20/05/2024 12:07

May 20 (Reuters) - Ageas SA  AGES.BR :
    * AGREEMENT WITH CHINA TAIPING INSURANCE HOLDINGS TO
SUBSCRIBE TO
CAPITAL INCREASE TAIPING PENSION CO., LTD
    * TOTAL CONSIDERATION OF RMB 1,075 MILLION (AROUND EUR 137
MILLION)
    * AFTER CLOSING OF TRANSACTION AGEAS WILL HOLD 10% OF
ENLARGED
SHARE CAPITAL OF TPP
    * IMPACT ON GROUP'S SOLVENCY POSITION IS ESTIMATED TO BE
AROUND 4
PERCENTAGE POINTS
    * CLOSING OF TRANSACTION IS EXPECTED IN Q1 OF 2025

Source text: https://tinyurl.com/ycvrtk38
Further company coverage:  AGES.BR 

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