BNP Paribas announces that it has signed, through its insurance subsidiary BNP Paribas Cardif, an agreement to acquire the approximately 9% stake held by the Chinese group Fosun in the Belgian insurance company ageas.

A 4.8% stake will be acquired in the next few days, and the remainder after the required regulatory approvals. The total price, estimated at around 730 million euros, corresponds to a marginal impact on the CET1 ratio of around two basis points.

BNP Paribas points out that it benefits from a partnership with ageas, through AG Insurance (AGI), which takes the form of an exclusive insurance distribution agreement between AGI and BNP Paribas Fortis and a 25% (plus one share) stake in AGI held by the latter.

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