BNP Paribas sells 75% interest in Belgian holding to Cobehold

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 of its remaining 25% stake between 27 December 2004 and 31 March 2004.

Prior to the transaction, Cobepa sold BNP Paribas its stakes in companies belonging to the Frère and Desmarais groups, together with its share in private equity funds managed by PAI partners. The deal ties in with BNP Paribas' strategy to dispose its direct portfolio of investments in private equity. Cobepa's management is fully involved in this transaction and has announced intentions to develop Cobepa's investment business.

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