(CercleFinance.com) – BNP Paribas announces the receipt of regulatory authorizations for the finalization of the sale of its American subsidiary Bank of the West to BMO Financial Group, a transaction which was the subject of an agreement announced in December 2021.
No other regulatory authorization is required to carry out this operation, which should therefore soon be possible to close. As a reminder, Bank of the West operates the commercial banking activities of BNP Paribas in the United States.
The transaction is expected to close on February 1, subject to satisfaction of the remaining customary closing conditions set forth in the agreement. Its final financial impacts will be provided on February 7, with BNP Paribas’ 2022 annual results.