The Belgian government is intensifying efforts to divest its 5.7% stake in BNP Paribas SA, worth approximately €5.4 billion ($6.1 billion). While the sale is not imminent, officials within Prime Minister Bart de Wever’s five-party coalition are pushing to prioritize the divestment following other asset sales. The government plans to sell a 20% stake in Belfius Bank SA by year-end and is exploring options for insurer Ethias SA.
Finance Minister Jan Jambon has expressed openness to selling non-strategic state assets, stating, “In my view, owning a bank is not a core task of government.” The sale is not tied to ongoing budget talks, though the coalition faces challenges in reaching consensus amid €10 billion in required savings by 2029. Belgium acquired the BNP stake in 2008 during the financial crisis when the French bank took control of Fortis. Other European governments, including those of Italy, Germany, and the Netherlands, are also selling long-held bank stakes as sector valuations rise.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing