BNP Paribas in Acquisition of its Remaining 25% Stake from the Belgian State for €3.25 Billion

Cleary Gottlieb is representing BNP Paribas in its acquisition of the remaining 25% stake held by the Belgian State in BNP Paribas Fortis for a value of €3.25 billion.

This shareholding originated in 2008-2009 transactions in the context of the deteriorated financial condition of Fortis Bank Belgium (now BNP Paribas Fortis), whereby the Belgian State held (through the SFPI) 25% of the shares of Fortis Bank Belgium and the remaining shares were held by BNP Paribas. After the success of the transfer of Royal Park Investment’s portfolio of structured credits in May this year, this transaction marks a new phase in the disposal by the Belgian State of its investments in Fortis Bank Belgium. Cleary Gottlieb has provided continued legal assistance to the BNP Paribas group in this context.