BNP Paribas considers buying Fosun's Ageas stake, Bloomberg News reports
Reuters
Published Mar 14, 2024 20:16
Updated Mar 14, 2024 20:50
(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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Written By: Reuters
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