BNP sells half its Klepierre stake

BNP Paribas is set to pocket €1.5bn from the sale of more than half its stake in real-estate company Klepierre to Simon Property Group. SPG will become Klepierre’s biggest shareholder with a 28.7 per cent stake, leaving BNP – which is said to be considering exiting Klepierre completely – with a 22.2 per cent stake.