(CercleFinance.com) – BNP Paribas announces that it has entered into an agreement with BMO Groupe Financier for the sale of 100% of its commercial banking activities in the United States operated by its subsidiary Bank of the West, for a total price consideration of 16 , $ 3 billion in cash.
The transaction should be formally completed in 2022, subject to the usual conditions precedent, and should generate an exceptional capital gain (net of tax) estimated at around 2.9 billion euros upon completion. .
The group plans to then proceed with an extraordinary distribution in the form of share buybacks in order to offset the expected dilution of BNA. Net of these share buybacks, the increase in the CET1 ratio would be around 110 basis points.
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