BNP Paribas Set to Sell Stakes in Gabon, Tunisia Retail Banks
24 Abril 2019 - 09:43AM
Dow Jones News
By Emmanuel Tumanjong
BNP Paribas SA (BNP.FR) is looking for buyers to take over its
shares in its retail banks in Gabon and Tunisia, according to
Gabonese newspaper reports on Wednesday.
Libreville-based Gabon Review said Tuesday that France's largest
bank intends to sell its 46.7% stake in Banque Internationale pour
le Commerce et l'Industrie du Gabon, or BICIG, and 50.1% shares in
Tunisia's Union Bancaire pour le Commerce et l'Industrie SA
(UBCI.TU).
BNP Paribas's move to sell its shares in both countries started
in 2016, when it had said it was looking for "serious buyers."
However, the French bank said it was not quitting Africa, as it
still it holds investments in Algeria, Ivory Coast and Morocco.
"Discussions have been taking place for several years between
shareholders of BICIG in a bid to reorganize the bank's capital,"
Gabon Review cited BNP Paribas as saying. A spokesman for Gabon's
BICIG declined to comment.
BNP Paribas has operated in Gabon for 32 years, according to the
country's Ministry of Finance.
Write to Barcelona Editors at barcelonaeditors@dowjones.com
(END) Dow Jones Newswires
April 24, 2019 08:28 ET (12:28 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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