Albert Frere and BNP Paribas have made a €1.5 billion offer to buy out shares they do not already own in Nationale a Portefeuille (CNP), Bloomberg reports. ERBE, which is 53% owned by the Frere and 47% by BNP, is offering €48.64 per share for the Belgian holding company, adds Reuters. ERBE owns 46.5% of CNP, while the Frere family holds an additional 20.8% stake. The offer is for a 27.8% stake that they do not already own in CNP.
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