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BNP Paribas considers buying Fosun's Ageas stake, Bloomberg News reports

Published 14/03/2024, 20:16
Updated 14/03/2024, 20:50
© Reuters. FILE PHOTO: The logo of BNP Paribas is seen outside a bank building in Paris, France, February 5, 2024. REUTERS/Sarah Meyssonnier/File Photo

(Reuters) -Euro zone's largest bank BNP Paribas (EPA:BNPP) is considering a potential acquisition of Chinese conglomerate Fosun International's stake in Belgian insurer Ageas, Bloomberg News reported on Thursday, citing people with knowledge of the matter.

Fosun International holds a 7.19% stake in Ageas, according to LSEG data.

The France-headquartered lender's discussions on a possible purchase of Fosun's holding in Ageas might not lead to a transaction, the report said.

BNP Paribas and Ageas declined to comment on the Bloomberg report, while Fosun did not respond to a Reuters email out of business hours.

Separately, British home and motor insurer Direct Line (LON:DLGD) on Wednesday rejected a revised 3.17 billion pound ($4.04 billion) takeover bid from rival Ageas, reiterating that it "significantly undervalued" the company.

($1 = 0.7844 pounds)

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