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Belgium sells part of its stake in BNP Paribas for two billion euros: bookrunner
May 4, 2017 / 6:43 AM / 3 months ago

Belgium sells part of its stake in BNP Paribas for two billion euros: bookrunner

1 Min Read

A man is seen in silhouette as he walks behind the logo of BNP Paribas in a building in Issy-les-Moulineaux, near Paris, France, April 5, 2017.Gonzalo Fuentes

PARIS (Reuters) - Belgium has sold a quarter of the stake it holds in France's biggest listed bank BNP Paribas (BNPP.PA) for around 2 billion euros ($2.2 billion), a bookrunner for the deal said.

The country, which acquired the stake in 2008 as a result of a bailout of Belgian financial group Fortis, said the deal would result in Belgium trimming back its stake in BNP Paribas to 7.8 percent from 10.3 percent previously.

Belgium is keen to keep a strategic share in BNP Paribas, the country's finance ministry said on Wednesday.

($1 = 0.9183 euros)

Reporting by Arno Schuetze; Writing by Maya Nikolaeva; Editing by Sudip Kar-Gupta

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