BNP Paribas : Agreement reached to divest Bank of the West for $ 16.3bn
>Agreement to sell Bank of the West to BMO Financial Group - BNP Paribas announced on Monday, 20 December that it has reached an agreement to sell US unit Bank of the West to Canada's BMO Financial Group for $ 16.3bn in cash (€ 14.4bn). The sale price represents 1.72 times Bank of the West’s Net Tangible Book Value and 20.5% of BNP Paribas market capitalisation, while Bank of the West has contributed an average of approximately 5% to the group pre-tax earnings over th...BNP Paribas is engaged in the provision of banking and financial services. Co.'s business activities are divided into two segments: Retail Banking & Services and Corporate and Investment Banking. The Retail Banking and Services business includes domestic markets and international financial services. The Corporate and Institutional Banking comprises of corporate banking, global markets, and securities services. Other activities include principal investments, which related to Co.'s central treasury function, some costs related to crossbusiness projects, the residential mortgage lending business of personal finance, and certain investments.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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