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
04-15-24 0151ET