BNP Paribas Buys 9% of Ageas From Fosun for EUR730 Million

By Najat Kantouar

BNP Paribas is buying Fosun International's 9% shareholding in Belgium insurer Ageas through its insurance subsidiary BNP Paribas Cardif for 730 million euros ($776.8 million).

The French bank said on Sunday that it will buy an initial 4.8% of Ageas in the coming days, and the rest following the receipt of mandatory regulatory approvals.

The total consideration represents a marginal impact on BNP Paribas Group's Common Equity Tier 1 ratio of approximately two basis points, BNP said.

Write to Najat Kantouar at najat.kantouar@wsj.com