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Bond Market News
Fosun Considering Up to $800mn Stake Sale in Ageas
February 6, 2024
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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