BNP Sells Remaining Stake in Klepierre For EUR40.5 Per Share

By Noemie Bisserbe and Matthew Dalton

PARIS--French bank BNP Paribas SA (BNP.FR) said Tuesday it sold its remaining 6.5% stake in real estate company Klepierre SA (LI.FR) in a private placement to institutional investors for 829 million euros ($914 million), or EUR40.5 a share.

The deal will raise BNP's core, tier-one equity ratio by 0.05 percentage points, BNP said.

"This transaction is part of BNP Paribas' active management of its equity investment portfolio," the company said in a statement on Monday, when BNP announced that it would begin the sale. "The result of the private placement will be announced after the closing of the bookbuilding."

In May, BNP Paribas had sold a 7% stake in Klepierre and said it would keep the 6.5% stake it still held in the real estate company for at least 90 days.

Write to Noemie Bisserbe at noemie.bisserbe@wsj.com and Matthew Dalton at matthew.dalton@wsj.com

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(END) Dow Jones Newswires

November 03, 2015 03:21 ET (08:21 GMT)

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