French bank BNP Paribas is reportedly in talks to sell its 51% stake in its retail real estate investment trust Klépierre to Norway's sovereign wealth fund Norges Bank.
French bank BNP Paribas is reportedly in talks to sell its 51% stake in its retail real estate investment trust Klépierre to Norway's sovereign wealth fund Norges Bank.
According to news reports in business publication La Lettre de L'Expansion and Les Echo, BNP is pushing ahead with the divestment to shore up its balance sheet in the face of stricter capital regulations. It remains unclear how advanced negotiations are.
Both BNP Paribas and Klépierre declined to comment on the rumours.
