Belgium to Sell Third of BNP Paribas Stake, Reuters Reports

--Belgium's state participation agency SFPI is preparing a sale of a third of its 7.8% stake in BNP Paribas SA, reducing its shareholding in the French lender to about 5.1%, Reuters reports.

--Bookrunners told investors to submit stock orders that the deal was likely to price 64.96 euros ($68.71) per share, valuing the transaction at over $2 billion, Reuters says, citing messages from unnamed sources. Shares in BNP closed Tuesday at EUR66.15.

--BNP Paribas and SFPI could not immediately be reached for comment when contacted by Dow Jones Newswires.

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(END) Dow Jones Newswires

03-01-23 0230ET