This content is from: Innovation

CNP Gets €1.5B Frere, BNP Paribas Offer

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.

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.

Click here for the story from Bloomberg.

Click here for additional coverage from Reuters.

Related Content