Deals
Fosun Considers Sale of $800 Million Stake in Ageas
- The Chinese firm owns 10% stake in the publicly-traded insurer
- Fosun could sell shares through blocks or to another investor
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Fosun International Ltd. is considering a sale of its minority stake in Belgium’s largest insurer Ageas, people familiar with the matter said, as the Chinese conglomerate accelerates its asset sales to pare debt.
The company is working with advisers to explore a potential partial or full divestment of its 10% stake in Ageas, the people said. It could sell the shares through one or more block trades, according to the people, who asked not to be identified because the information is private. The holding was worth about €736 million ($792 million) at Friday’s closing price.