BRIEF-Ageas To Hold 10% Of Enlarged Share Capital Of Taiping Pension Co

Reuters05-20

May 20 (Reuters) - Ageas SA :

* AGREEMENT WITH CHINA TAIPING INSURANCE HOLDINGS TO SUBSCRIBE TO CAPITAL INCREASE TAIPING PENSION CO., LTD

* TOTAL CONSIDERATION OF RMB 1,075 MILLION (AROUND EUR 137 MILLION)

* AFTER CLOSING OF TRANSACTION AGEAS WILL HOLD 10% OF ENLARGED SHARE CAPITAL OF TPP

* IMPACT ON GROUP'S SOLVENCY POSITION IS ESTIMATED TO BE AROUND 4 PERCENTAGE POINTS

* CLOSING OF TRANSACTION IS EXPECTED IN Q1 OF 2025

Source text: Further company coverage:

(Gdansk Newsroom)

((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))

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