China’s Fosun weighs €9bn Ageas takeover
China’s Fosun International is considering an offer for all or parts of Belgian insurer Ageas, according to a Bloomberg News report citing “people familiar with the matter”.
Fosun is talking to advisers about alternatives including teaming up with a partner to split the Brussels-based company or increasing its current stake, the people reportedly said.
Brussels-based Ageas has a market value of around €8.9 billion.
Fosun bought control of Portugal-based Caixa Geral de Depositos’ insurance business in a roughly €1.6 billion deal in 2014. It also acquired US-based Ironshore in 2015 for $2.1 billion and then sold it less than two years later, Bloomberg New noted.
Liberty Mutual agreed to acquire Ironshore in December 2016 for around $3 billion.
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