BNP Paribas to Buy Fosun’s Stake in Belgian Insurer Ageas (1)

BNP Paribas SA agreed to buy Fosun International Ltd.’s 9% stake in insurer Ageas for about €730 million ($777 million), tightening the French lender’s relationship with its partner in a Belgian business.

BNP Paribas’ insurance unit will buy a 4.8% stake in Ageas in the coming days, with the rest of the acquisition to be done after regulatory approvals are received, the bank said in a statement Sunday. Bloomberg News reported last month that BNP Paribas was considering the deal.

BNP Paribas and Brussels-based Ageas already have a joint venture, AG Insurance, that sells life, auto and other ...