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Fosun International is considering selling its minority stake in Belgian insurer Ageas, to reduce its debt burden, according to the sources. The company is exploring either a partial or full divestment of its 10% stake in Ageas, currently worth €736mn ($792mn). The sources added that the company could also look to sell its stake to a strategic buyer. Last year in December it was reported that Fosun was considering stake sale in FFT for €1.5bn ($1.6bn).
Fosun’s bonds have been rallied since the start of the year with its 5.05% 2027s rising by 11 points to trade at 78.3 cents on the dollar, yielding 14.3%.
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