According to Reuters, BNP Paribas has hired US investment banks regarding the sale of its US retail banking subsidiary Bank of the West. BNPP is looking for a price of about €13bn, twice as much as our valuation in our SOTP and equal to a P/E of 28x (2022 consensus estimates).
Thist has been in the air since the sale of BBVA US in November 2021 and it is now becoming reality (especially considering the price mentioned).
15 Nov 2021
Finally a plan for BNPP US
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Finally a plan for BNPP US
- Published:
15 Nov 2021 -
Author:
Farhad Moshiri -
Pages:
2
According to Reuters, BNP Paribas has hired US investment banks regarding the sale of its US retail banking subsidiary Bank of the West. BNPP is looking for a price of about €13bn, twice as much as our valuation in our SOTP and equal to a P/E of 28x (2022 consensus estimates).
Thist has been in the air since the sale of BBVA US in November 2021 and it is now becoming reality (especially considering the price mentioned).