BNP Paribas Group Sells Its Stake In AG Insurance

Reuters12-08 14:28

Dec 8 (Reuters) - Bnp Paribas ::
*BNP PARIBAS GROUP SELLS ITS STAKE IN AG INSURANCE AND FORMALISES LONG TERM PARTNERSHIP WITH AGEAS
*CARDIF, BNP PARIBAS' INSURANCE SUBSIDIARY, OWNING CURRENTLY A 14.9% STAKEIN AGEAS, WILL MAKE A EUR 1.1 BILLION CONTRIBUTION TO AGEAS CAPITAL.
*BASED ON AN AGREED PRICE OF EUR 60 PER SHARE, BNP PARIBAS CARDIF WOULD HOLD A 22.5% STAKE IN AGEAS, UPON COMPLETION OF TRANSACTION.
*GROUP WILL THEREBY STRENGTHEN AGEAS' CAPACITY FOR GROWTH WHILE PRESERVING ITS AUTONOMY AND INDEPENDENCE.
*AGEAS DEAL IS EXPECTED TO BE FINALISED IN 2Q26, AFTER OBTAINING NECESSARY REGULATORY APPROVALS.
*DEAL RESULTS IN EUR 820 MILLION NET CAPITAL GAIN IN 2026
*IN ADDITION, BNP PARIBAS GROUP NET INCOME WOULD INCREASE ON A RECURRING ANNUAL BASIS BY EUR 40 MILLION FROM AGEAS DEAL
*AGEAS CEO: TAKING FULL OWNERSHIP OF AG INSURANCE ENABLES US TO FURTHER ADVANCE OUR BELGIAN OPERATIONS

((Reuters Investor Briefs; email: reutersinvestor.briefs@thomsonreuters.com))
Source Date/Time = 08-DEC-202506:00:00.13 GMT

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