(CercleFinance.com) – BNP Paribas announces that it has signed, through its insurance subsidiary BNP Paribas Cardif, an agreement for the repurchase of the stake of around 9% held by the Chinese group Fosun in the insurance company. Belgian ageas insurance.
A tranche of 4.8% of the capital will be acquired in the coming days, and the balance after the required regulatory authorizations. The total price, estimated at around €730 million, corresponds to a marginal impact on the CET1 ratio of around two basis points.
BNP Paribas recalls benefiting from a partnership with ageas, through AG Insurance (AGI), materialized by an exclusive insurance distribution agreement between AGI and BNP Paribas Fortis and by a participation of 25% (plus one share) of the latter in AGI.