Fosun International (00656) announced that on April 12, 2024 (CET), the company signed an agreement with the buyer BNP Paribas Cardif. According to this, the company conditionally and irrevocably agreed to sell and the buyer conditionally and irrevocably agreed to purchase no more than 15.4012 million shares for sale. The total minimum cost was approximately EUR 626 million and the maximum amount was approximately EUR 670 million (subject to adjustments).
As of the date of this announcement, the sale of shares did not exceed 8.19% of the total issued shares of the target company Ageas SA/NV. After the sale is completed, the company is expected to hold no more than 1,952,500 shares of the target company.
The announcement stated that as an innovation-driven global household consumer industry group, the company's mission is to make families around the world happier. The sale is part of the company's strategy to streamline its investment portfolio and focus on its core business. It also demonstrates the Group's determination to continuously improve its financial performance and create maximum value for shareholders.