Belgium-headquartered insurance group Ageas wants to sell its French businesses and has initiated exclusive discussions with potential buyer La Mutuelle Epargne Retraite Prévoyance Carac (Carac).
“The proposed disposal aligns with Ageas’s strategy to streamline its European portfolio and to concentrate on its core markets in the region,” noted Ageas in its release.
“The next step in the process will be the consultation of the employee representatives in France. The proposed disposal will require regulatory approvals.”
It was highlighted that Carac, a mutual, and Ageas will refrain from any further comment until the negotiations have been concluded.
The firms at the centre of the talks are Ageas France, Ageas Retraite, Ageas Patrimoine, and Sicavonline.
