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| Name | Symbol | Market | Type |
|---|---|---|---|
| Ageas (PK) | USOTC:AGESY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.6524 | 1.34% | 49.3824 | 49.32 | 49.84 | 49.7646 | 49.3824 | 49.7646 | 2,093 | 20:13:43 |
From Jan 2020 to Jan 2025
BRUSSELS--Shares in Belgian insurance group Ageas NV (AGS.BT) rose over 5% on Monday, after it announced the sale of the assets of its bad bank, Royal Park Investments, to an institutional investor over the weekend.
Shares in Ageas were up 5.8% at 9.50 a.m. local time, making it the strongest gainer in the Bel-20 index.
The deal will bring an estimated cash flow to Ageas of 1.04 billion euros ($1.35 billion), the company said, adding that it has reached an agreement with the Belgian state on the sale of its call option on BNP Paribas SA (BNP.FR) shares for a total consideration of EUR144 million.
"This is another major step forward in simplifying our company and will eliminate the uncertainties linked to the evolution of the value of these assets," Ageas Chief Executive Bart de Smet said in a statement. "The transaction will also significantly strengthen our net cash position."
Write to Frances Robinson at frances.robinson@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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