Key Developments: BNP Paribas SA (BNPP.PA)

BNPP.PA on Paris Stock Exchange

6 Oct 2015
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Latest Key Developments (Source: Significant Developments)

Big banks including BNP Paribas SA in $1.865 bln swaps price-fixing settlement - Reuters
Thursday, 10 Sep 2015 08:00pm EDT 

BNP Paribas SA:Twelve major banks have reached a $1.865 billion settlement to resolve investor claims that they conspired to fix prices and limit competition in the market for credit default swaps, a lawyer for the investors said on Friday - Reuters.The settlement in principle was disclosed at a hearing before U.S. District Judge Denise Cote in Manhattan - Reuters.The defendants include Bank of America Corp, Barclays Plc, BNP Paribas SA, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc, HSBC Holdings Plc, JPMorgan Chase & Co, Morgan Stanley, Royal Bank of Scotland Group Plc and UBS AG - Reuters.Other defendants are the International Swaps and Derivatives Association (ISDA) and Markit Ltd, which provides credit derivative pricing services - Reuters.Credit default swaps are contracts that let investors buy protection to hedge against the risk that corporate or sovereign debt issuers will not meet their payment obligations - Reuters.The market peaked at $58 trillion in 2007, according to the Bank for International Settlements, but shrank to $16 trillion seven years later as investors better understood its risks - Reuters.Investors including the Los Angeles County Employees Retirement Association and Salix Capital US claimed that the defendants' activity caused them to pay unfair prices on CDS trades from late 2008 through the end of 2013, even though improved liquidity should have driven costs down - Reuters.  Full Article

BNP Paribas SA to pay $115 mln to settle currency-rigging lawsuit - Reuters
Thursday, 13 Aug 2015 08:00pm EDT 

BNP Paribas SA:Says has agreed to pay $115 million to settle U.S. investor lawsuits accusing 16 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market, a person familiar with the matter said on Aug.14 - Reuters.Says the bank is among nine that lawyers for the plaintiffs disclosed on Aug.13 had reached agreements totaling more than $2 billion in class action litigation pending in New York.Of those banks, the plaintiffs have announced the terms for only four of their settlements, leaving unconfirmed how much BNP Paribas, HSBC Holdings Plc, Barclays Plc, Goldman Sachs Group Inc and Royal Bank of Scotland Group Plc will pay.IN the litigation, investors including hedge funds and pension funds, accused the banks of impeding competition by conspiring to manipulate the WM/Reuters Closing Spot Rates in chat rooms, instant messages and emails.  Full Article

BNP Paribas SA must pay investors $16.6 mln in arbitration -panel - Reuters
Monday, 29 Jun 2015 08:00pm EDT 

BNP Paribas SA:Says a BNP Paribas SA unit must pay $16.6 million to a London-based couple in a dispute stemming from an investment product that is typically sold to hedge funds and institutional clients, a securities arbitration panel has ruled -Reuters.Says Arbitrators from the Financial Industry Regulatory Authority (FINRA) found BNP Paribas Securities Corp liable in the case, which alleged gross negligence and civil fraud.Says the ruling in the long-running case, which began in 2010, includes $16.1 million in compensatory damages, which represents the full amount initially sought by the couple plus interest.  Full Article

BNP Paribas unit Arval has entered into a memorandum of understanding to acquire GE capital's european fleet operations
Monday, 29 Jun 2015 02:30am EDT 

BNP Paribas SA:Said unit Arval has entered into a memorandum of understanding to acquire ge capital's european fleet operations.The completion of the transaction is expected in the fourth quarter of this year.  Full Article

BNP Paribas raises 870 mln euros in Klepierre stake sale
Thursday, 7 May 2015 01:56am EDT 

BNP Paribas SA:Places part of stake in Klepierre at 39.60 euros per share.Raises 870 million euros from stake sale.Says sale will have positive impact of 5 bps on CET1 ratio.  Full Article

BNP Paribas proposes FY 2014 dividend
Thursday, 5 Feb 2015 01:00am EST 

BNP Paribas SA:To propose FY 2014 dividend of 1.5 euro per share, unchanged from FY 2013.  Full Article

NN Group completes sale of its stake in ING-BOB Life to BNP Paribas Cardif
Tuesday, 30 Dec 2014 12:00pm EST 

NN Group NV:Says to have completed sale of its 50 pct stake in its Chinese insurance joint venture ING-BOB Life Insurance Company to BNP Paribas Cardif.Transaction announced by ING Group on July 8, 2013, not to have material impact on NN Group results.  Full Article

BNP Paribas plans squeeze-out at DAB Bank AG
Wednesday, 17 Dec 2014 05:14am EST 

DAB Bank AG:Says BNP Paribas Beteiligungsholding informed Management Board of DAB Bank that it holds total of 83,417,013 shares of DAB Bank AG, representing around 91.69 pct of share capital and shares.BNP Paribas Beteiligungsholding AG is seeking to merge DAB Bank with BNP Paribas in order to simplify corporate structure.Says goal is to squeeze out remaining shareholders (minority shareholders) of DAB Bank against payment of appropriate cash compensation.  Full Article

Zublin Immobiliere France sells Chaganne building in Gennevilliers to BNP Paribas REIM's SCPI Accimmo-Pierre
Wednesday, 29 Oct 2014 02:10am EDT 

Zublin Immobiliere France SA:Announces disposal of Chaganne building in Gennevilliers for a net price confirming appraisal value as at March 31.Asset was acquired by the SCPI Accimmo-Pierre, which is managed by BNP Paribas REIM, for a gross price of 32.2 million euros.  Full Article

Baudouin Prot has announced to board of directors his decision to step down as chairman and director of BNP Paribas SA as of Dec. 1
Friday, 26 Sep 2014 05:40pm EDT 

BNP Paribas SA:Says during meeting, board of directors of BNP Paribas acknowledged Baudouin Prot's decision to step down as chairman and director as of Dec. 1.Board will meet on this same date to appoint, following proposal of extended corporate governance and nominations committee, which met on two occasions, Jean Lemierre as director and chairman of board of directors.  Full Article

EU mergers and takeovers (Sept 22)

BRUSSELS, Sept 22 - The following are mergers under review by the European Commission and a brief guide to the EU merger process:

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