Belgium Mulls €5.4 bn Sale of Its 5.7% BNP Paribas Stake
The Belgian federal government is reviewing the possible disposal of its roughly €5.4 billion, 5.7% holding in BNP Paribas, but no transaction is imminent.
Belgium’s federal authorities are contemplating the future of their €5.4 billion investment in BNP Paribas, a 5.7% share acquired after the 2008 crisis through the Fortis restructuring. Managed by SFPI-FPIM, the holding is valued at roughly €5.4 billion based on the bank’s €95 billion market cap, though actual proceeds would depend on market conditions. While some members of the governing coalition support a disposal as part of a broader review of state-owned financial assets, officials stress that a sale is not expected in the near term.
Current priorities include a potential 20% divestment of state-owned Belfius Bank by the end of 2026 and strategic options for insurer Ethias, which are likely to be addressed before any BNP Paribas transaction. No buyer or price has been identified, and the timing remains uncertain.
Why it matters
The decision could reshape Belgium's public investment portfolio and affect future dividend income from a major European bank.
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