BNP Paribas has signed an agreement with Fosun Group to acquire its stake in ageas

BNP Paribas Group announces the signature, through its insurance subsidiary BNP Paribas Cardif, of an agreement to acquire Fosun Group’s stake of approximately 9% in ageas.

The acquisition will be performed in two tranches:

• 4.8% of the issued shares in the coming days
• The balance following the receipt of mandatory regulatory approvals.

The total consideration is estimated to approximately 730 million euros, corresponding to a marginal impact on BNP Paribas Group’s Common Equity Tier 1 (CET1) ratio of approximately 2 basis points.

BNP Paribas Group, through BNP Paribas Fortis, benefits from a partnership with ageas, through AG Insurance (AGI), the leading insurer in Belgium. This partnership is materialized by an exclusive distribution agreement for Life and Non-Life insurance between AGI and BNP Paribas Fortis and by a stake of 25% (plus one share) held by the latter in AGI. BNP Paribas Group acquisition of a minority stake in ageas does not modify any term of this historic and strategic partnership.