The federal government wants to sell part of the stake in the French bank BNP Paribas. This is reported by the newspaper ‘De Tijd’ and the financial press agency ‘Bloomberg’. The spokesman for Prime Minister Alexander De Croo (Open Vld) confirms the operation.
According to ‘Bloomberg’, the Federal Holding and Investment Company (FPIM) plans to sell 33.3 million shares of the major French bank. The operation will take place tonight at a minimum price of EUR 60 per share excluding dividend. The government is thus assured that no sales are made at a loss. According to ‘De Tijd’, the move would bring in about 2 billion euros.
The participation of the federal government in BNP Paribas is thus shrinking from 7.8 percent to approximately 5.1 percent. This means that the government remains an independent administrator, according to Prime Minister Alexander De Croo’s spokesman.
The core cabinet of the federal government already decided on January 23 to sell part of the BNP Paribas interest because the bank is currently quoted high on the stock exchange. The proceeds of the operation will flow back to FPIM, according to the prime minister’s spokesman.
In 2008, with the partial sale of Fortis Bank, the Belgian state took a 10.3 percent interest in BNP Paribas. In the spring of 2017, the government already sold part of the shares.
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