BNP Paribas to acquire Fosun's stake in Ageas

Through its insurance subsidiary BNP Paribas Cardif, the French bank BNP Paribas has signed an agreement with the Chinese conglomerate Fosun to acquire the latter's 9% stake in the Belgian insurer Ageas.

Under the terms of the deal, BNP Paribas will acquire 4.8% of Ageas' capital in the next few days. The remaining 4.2% will be acquired following regulatory approval.

The transaction is valued at 730 million EUR (775.3 million USD).