BNP Paribas Buys 9% of Ageas From Fosun for EUR730 Million
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)
Copyright (c) 2024 Dow Jones & Company, Inc.-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Best- and Worst-Performing Stocks of Q2 2024
-
13 Charts On the Market’s Q2 Turnaround
-
10 Top-Performing Dividend Stocks of Q2 2024
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations
-
Real Estate: Interest Rate Movements Drive Performance
-
Technology: Strength Continues, With Software Presenting the Best Buying Opportunities