Argo assists Ageas’ independent directors in RPT with BNPP group

Argo Law is pleased to have advised the committee of independent directors of Ageas (Euronext Brussels: AGS) in connection with the EUR 1.9 billion acquisition of the outstanding 25% stake in AG Insurance from BNP Paribas Fortis, the financing of said acquisition with new and existing shares and the execution of a term sheet for a new Bancassurance agreement between AG Insurance and BNPP Fortis.

This transaction gives Ageas full ownership of AG Insurance – Belgium’s largest insurer – strengthening its strategic grip on core activities in its home market. In return, BNP Paribas becomes Ageas’ largest shareholder, deepening the ties between both groups. Their long-standing commercial relationship is further reinforced through a renewed 15-year bancassurance agreement between AG Insurance and BNP Paribas Fortis.

Argo acted as independent legal expert under Article 7:116 of the Belgian Code of Companies and Associations.

We are proud to have supported the committee throughout this important process.