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.