BNP Paribas Sells AG Insurance Stake to Ageas for €2 Billion

BNP Paribas SA agreed to sell its 25% stake in AG Insurance to Ageas, giving the Belgian firm full control over its home market’s leading insurer.

Ageas will pay €1.9 billion ($2.2 billion) for the holding, according to a statement on Monday. In return, BNP Paribas is investing €1.1 billion ($1.3 billion) in the insurer, which is expected to increase its current stake in Ageas to 22.5% from 14.9%.