Ageas tops BEL 20 as BNP Paribas agrees to buy Fosun's stake

FOSUN INTERNATIONAL

15/04/2024 08:27

** Shares in Ageas  AGES.BR  rise more than 3% after French
lender BNP Paribas  BNPP.PA  agrees to buy stake in the Belgian
insurer, its long-time partner
    ** BNP Paribas signed an agreement with China's Fosun Group
 0656.HK  to acquire its around 9% stake in Ageas for a sum the
French bank estimates at 730 million euros ($777 million)
    ** KBC Securities says the sale "finally put months of
speculation to rest and removes the Fosun overhang, which has
been a negative on the share for more than 1.5 years"
    ** The broker adds the sale "is not a total surprise", with
Fosun's continued struggles
    ** If gains hold, the shares head for their best day in a
little over 7 months

 (Reporting by Nathan Vifflin)
 ((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))