BNP Paribas SA (ENXTPA:BNP) is considering a potential acquisition of Fosun International Limited (SEHK:656)?s stake in Belgian insurer ageas SA/NV (ENXTBR:AGS), according to people with knowledge of the matter. The French lender has been holding discussions on a possible purchase of Fosun?s holding in Ageas, said the people, who asked not to be identified because the information is private. Fosun has about a 10% interest in Ageas valued at roughly ?750 million ($816 million) based on March 14, 2024 closing price, according to a regulatory filing.

The figure includes its stock ownership as well as derivative holdings. The deliberations are ongoing and there?s no certainty they will lead to a transaction, the people said. Representatives for BNP and Ageas declined to comment.

Fosun couldn?t immediately be reached for comment outside regular business hours. Bloomberg News reported last month that Fosun has been working with advisers to explore a sale of its Ageas stake. The Chinese conglomerate, which is backed by billionaire Guo Guangchang, has been accelerating a divestment push as it seeks to cut its debt load following a global acquisition spree.

BNP?s potential move comes as Ageas pushes ahead with a contentious pursuit of a takeover of London-listed Direct Line Insurance Group Plc. The UK insurer said this week it had rejected a second takeover offer from Ageas valuing it at about £3.2 billion ($4.1 billion).