SA News • Tue, Jul. 29
Why BNP Paribas Litigation With U.S. Justice Department Is A Catalyst For Klépierre Shares
- BNP may have to pay more than $10bn to the U.S. Justice Department.
- The French bank may thus look to dispose non-core assets.
- The main one is a 22% stake in Klépierre.
- The natural buyer would be Simon Property Group, which has a 29% stake already and would then launch a public offer.
- Klépierre's strategy on a standalone basis is totally viable.
There are no Transcripts on KLPEF.
Tue, Jul. 29, 6:56 AM
- French real-estate group Klepierre (OTC:KLPEF) is closing in on a deal to acquire Dutch rival Corio (OTC:CRIOF) for €7.2B ($9.7B), which would create an industry leader with €21B in assets.
- The boards of both companies as well as their main shareholders (Simon Property Group (NYSE:SPG) and BNP Paribas (OTC:BNPZY)) back the deal, the companies said in a joint statement.
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