China's Fosun declines on sale of Ageas stake to BNP Paribas

FOSUN INTERNATIONAL

15/04/2024 04:56

** Shares of financial-to-healthcare businesses
conglomerate Fosun International  0656.HK  fall 1.6% to HK$4.26
  
        ** Stock down for third straight session; second biggest
pct loser on a Hang Seng index tracking conglomerates  .HSCIC 
  
    ** BNP Paribas  BNPP.PA  has signed an agreement with Fosun
to acquire its around 9% stake in Belgian insurer Ageas
 AGES.BR  for a sum the French bank estimates at 730 mln euros
($776.9 mln)
    ** Fosun said on Sunday that it plans sale of 15.4 mln
shares, or 8.19% stake in Ageas, to BNP Paribas Cardif for up to
670 million euros, as it streamlines its portfolio and raises
proceed for working capital
    ** Fosun said it would still hold 1.95 mln Ageas shares
after the sale
    ** Hang Seng Composite Index tracking conglomerates  .HSCIC 
slips 0.5% and Hang Seng Index  .HSI  eases 0.7%
    ** Fosun down 6.3% YTD

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))