Fosun Secures EUR670 Million for Completion of Ageas Sale
October 16, 2024 at 02:36 AM EDT
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HONG KONG, Oct 16, 2024 - (ACN Newswire) - According to Ageas's press release, BNP Paribas notified Ageas on October 3, 2024, that its current shareholding in Ageas reached 10.91%. This change in shareholding is based on the agreement reached between BNP Paribas and Fosun International on April 14, 2024. Fosun International entered into an agreement with BNP Paribas to sell up to 15,401,253 shares of AGEAS SA/NV for a total consideration between EUR626 million and EUR670 million.
Source familiar with the matter stated that Fosun International acquired Ageas shares at a low price in its early years. Dividends over the years and proceeds from the disposal have yielded Fosun a considerable return. The transaction was completed on October 3, 2024, and Fosun has received a full payment nearly EUR670 million in cash, the source said.
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