Belgium sells a third of its stake in BNP Paribas

The SFPI, the financial arm of the federal state, has decided to reduce its stake in the parent company of BNP Paribas Fortis from 7.8% to 5.1%. But beware: the operation will not bring a cent to the State.

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Journalist in the Economy department

By Dominique Berns

Published on 02/28/2023 at 20:20
Reading time: 3 mins

La Federal holding and investment company, the SFPIwill sell a third of its stake in BNP Paribas and will only hold 5.1% of the capital of the French banking group, leaving the place of first shareholder to the American giant of the management of assets Blackrock.

Given the current share price, the operation should yield around 2 billion euros. But beware: this money will not be paid to the State and will therefore not be used to reduce the public debt – unlike a similar operation carried out in May 2017, when the Belgian State decided to reduce from 10.3 to 7, 8% of its stake in BNP Paribas. At the time, the sale had brought in 2 billion which, in accordance with European budgetary rules, might not top up the budget, but only reduce the debt.

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