Ageas: divestment of Italian activities
(CercleFinance.com) - Belgian insurance group Ageas has reached an agreement with BNP Paribas' Cardif unit to sell its 50% + 1 share in the share capital of Cargeas Assicurazioni, its Italian non-life operations.
Ageas said the divestment of the Italian activities, where Ageas only had a limited market share, is in line with its strategy to concentrate its efforts on further developing businesses where it holds stronger positions or where growth prospects are better.
The divestment is expected to generate a capital gain of approximately 75 million euros.
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Ageas said the divestment of the Italian activities, where Ageas only had a limited market share, is in line with its strategy to concentrate its efforts on further developing businesses where it holds stronger positions or where growth prospects are better.
The divestment is expected to generate a capital gain of approximately 75 million euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.