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Ageas completes unit stake sale deal with BNP Paribas Cardif

Ageas SA/NV, a Belgian insurer, completed the sale of its 33% stake in Cardif Lux Vie SA to BNP Paribas Cardif for €152 million in cash, as well as €30 million repayment to Ageas in subordinated loans.

The deal was announced on Oct. 31. The transaction is now complete following the receipt of all necessary regulatory approvals.

The sale is expected to raise €35 million in capital gain and have a positive impact of 8% on the group solvency II ratio for Ageas, based on the end-September position.