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BNP Paribas SA sells stake in ERBE to Frere Group

Monday, 9 Dec 2013 07:00pm EST 

BNP Paribas SA:Says the Frere Group has acquired the entire BNP Paribas shareholding in ERBE.It was agreed at the time of the takeover bid for Compagnie Nationale a Portefeuille (CNP) in 2011 that the Frere Group would purchase the remaining stake held by BNP Paribas in ERBE, the parent company of CNP, in several tranches between 2016 and 2028.