OREANDA-NEWS.The BNP Paribas group announces today that it is disposing of 22 million Kl?pierre shares, representing 7% of the company's share capital, by way of an accelerated private placement to institutional investors.

Simon Property Group, which currently holds 18.3% of Kl?pierre’s share capital, has placed an order to acquire 2% of the share capital of the company at the bookbuilding price, on the basis of the above-mentioned placement.

This transaction is part of BNP Paribas' active management of its equity investment portfolio.

Following this transaction, BNP Paribas will remain a significant shareholder of Kl?pierre whose free-float will thus be increased. This transaction will not result in any change in BNP Paribas' representation in Kl?pierre's governance, nor in the agreements concluded, on 29 July 2014, by the Group with Simon Property Group and APG[1], following the announcement of the tie-up between Kl?pierre and Corio.

BNP Paribas has committed to a 90-day lock-up period on its residual position (approximately 6.5% of the share capital) as from the settlement of the transaction. The result of the private placement will be announced after the closing of the bookbuilding.

This private placement will be lead-managed by BNP Paribas acting as Sole Global Coordinator and Bookrunner.