July 24, 2018 / 6:29 PM / 2 years ago

Fosun considering bid for Belgian insurer Ageas - Bloomberg

July 24 (Reuters) - Fosun International Ltd is considering an offer for parts or the whole of Belgian insurer Ageas, in a move that would expand the Chinese conglomerate’s international footprint, Bloomberg reported on Tuesday.

Fosun is in talks with advisers about alternatives which include teaming up with a partner to split the Belgian company or increase its current stake, Bloomberg said, citing sources. bloom.bg/2Lh3DCh

Fosun currently holds a 3.01 percent stake in the company, according to a filing on Ageas' website. bit.ly/2LmaqdR

Ageas has a market capitalisation of 8.41 billion euros ($9.82 billion).

A potential deal could draw close scrutiny from regulators since Ageas is the biggest life insurance provider in Belgium and second biggest non-life insurer, the report added.

Fosun and Ageas did not immediately respond to requests for comment.

$1 = 0.8560 euros Reporting by Rama Venkat Raman in Bengaluru; Editing by Adrian Croft

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below