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BNP Paribas is considering acquiring Fosun’s 10% stake in Belgian insurance company Ageas, according to sources. According to the regulatory filing, Fosun’s stake is currently valued at €750mn ($816mn) based on Thursday’s closing price. The details and timeline of the transaction are not yet clear. The sources added that the discussions are ongoing and there is no certainty that a deal will go through. Fosun has been trying to sell its assets to pay down its debt. For instance, last month, it was reported that the company was considering sale of its stake in Ageas and Peak Re.
Fosun’s bonds traded stable with its 5.95% 2025s at 91.3 cents on the dollar, yielding 12.18%
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