BNP Paribas and Apax Partners SA announce the sale of BNP Paribas Personal Finance Belgium to the funds managed by Apax Partners SA. This divestment will enable BNP Paribas to meet the requirements of the European Commission concerning the BNP Paribas Fortis deal.
BNP Paribas Personal Finance Belgium manages some 500m€ assets in consumer credit for 300,000 clients (revolving cards and consumer loans), and has 200 employees.
Apax Partners SA, a leading private equity firm specialising in the European mid-market, supports companies’ growth across six business sectors including financial services.
The closing of the transaction is subject to approval by the European Commission and by the Belgium regulation authorities.
BNP Paribas remains active in the Belgium consumer finance market through Alpha Credit a 100% subsidiary of BNP Paribas Fortis. Alpha Credit that manages a loan book of € 2.5 billion is the driver of BNP Paribas Fortis’ consumer finance activity and the leader in car finance in Belgium.
D.C.