BNP Paribas has sold 75% of its Belgian holding COBEPA to COBEHOLD, a holding company founded and controlled by Belgian and European family investors. BNP Paribas will have the right to dispose its remaining 25% stake between December 27, 2004 and march 31, 2005.
Prior to this transaction, COBEPA sold to BNP Paribas its stakes in companies belonging to the Frère and Desmarais groups together with its share of interest in the Private Equity funds managed by PAI Partners, and distributed its liquidities.
This transaction is fully in line with BNP Paribas' strategy to dispose its direct portfolio. This transaction will have a minor impact of the Group's results.
COBEPA's management is fully involved in this transaction and will seek to develop COBEPA's investment business.
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