Advisor of the week

M&A ADVISOR OF THE WEEK

BNP Paribas SA is an international banking institution based in France. It organizes its activities into two main
areas of activity: Retail Banking & Services and Corporate Institutional Banking. BNP Paribas was created on May
23, 2000 from the merger of the Banque Nationale de Paris (BNP) and Paribas.

M&A Deals  6th in the M&A ranking

Founding  Founded in 1822 (in 2019 on the French
 40 advised deals
Date / HQ  HQ: Paris, France
market)
representing €22.7 bn

 Revenue: €44.6 bn (2019)

Financials  Net Income: €8.2 bn (2019)
 Retail Banking & Services
Core  Total assets: €2.4 tn (2019)
Capabilities  Corporate & Institutional
Banking
Operating  71 countries

Locations  198 816 employees (2020)

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BNP PARIBAS - OVERVIEW

DESCRIPTION
• In addition to its retail activities, BNP Paribas is also a leading global
investment bank through its Corporate & Institutional Banking unit.
Although present in all investment banking markets, it is recognized
as a global leader in derivatives trading, structured finance and
project finance.
• BNP Paribas is playing an especially active role in the development
of the green bond market and have in-depth knowledge of, for
example, the renewable energy market and water consumption
reduction.
• As the largest French banking institution, it is a component of the
CAC40 stock market index.
RECENT DEVELOPMENTS
• October 2020: BNP Paribas, and Allfunds, a world-class independent
leader in wealth technology announced the completion of their
strategic agreement to build next-generation fund distribution
services.
• July 2020: BNP Paribas, China Investment Corporation (“CIC”) and
Eurazeo announced the launch of the France-China Cooperation Fund
with the first close for €400m. The Fund will be managed by
Eurazeo.
• January 2020: Open banking platform Tink and BNP Paribas
announced an extension of their partnership in Europe. Tink is
Europe’s leading open banking platform that enables banks, fintechs
and start-ups to develop data-driven financial services.

NEWS KEY FINANCIALS

• For the eighth consecutive year, BNP Paribas has been awarded the
'Top Employer Europe' 2021 label by the Top Employers Institute. In bn€ 2017 2018 2019
REVENUES 43.2 42.5 44.6
• January 2021: BNP Paribas opens its private equity direct investment
activity to its clients and announces an interim closing of BNP % growth -1.6% +4.7%
Paribas Agility Capital at €525m.
EBIT 10.3 9.1 10.1
• July 2020: A group of 16 major European banks (including BNP
% margin 23.8% 21.4% 22.7%
Paribas) paved the way for the future launch of the European
Payments Initiative(EPI). The ambition of EPI is to create a unified, NET INCOME 8.2 8.1 8.5
innovative pan-European payment solution leveraging Instant
% margin 18.9% 19.1% 19.1%
Payment/SEPA Instant Credit Transfer.
NET DEBT 49.8 35.7 79.4
Source: Company Financial Networking Group. All rights reserved. External sources: S&P Global Market 2
Intelligence, Thomson Reuters, Bloomberg and Investing.com
 Advisor of the week

HISTORY

On 7 March 1848, the French Provisional Government founded the Comptoir national d'escompte de Paris (CNEP) in
response to the financial shock caused by the revolution of February 1848.

After the end of the Second World War, the French state decided to "put banks and credit to work for national
reconstruction". A law passed in 1945 and which went into effect nationalized the four leading French retail banks:
Banque nationale pour le commerce et l'industrie (BNCI), Comptoir national d'escompte de Paris (CNEP), Crédit Lyonnais,
and Société Générale.

In 1966, the French government decided to merge Comptoir national d'escompte de Paris with Banque nationale pour le
commerce et l'industrie to create one new bank called Banque Nationale de Paris (BNP).

In 1999, BNP and Société Générale fought a complex battle on the stock market, with Société Générale bidding for
Paribas and BNP bidding for Société Générale and counter-bidding for Paribas. BNP's bid for Société Générale failed,
while its bid for Paribas succeeded leading to a merger of BNP and Paribas one year later in 2000. This merger creates a
leading universal bank in Europe.
Founded in 1872, Paribas (then called the Banque de Paris et des Pays-Bas) rapidly became the leading French investment
bank. It held stakes in a large number of companies and specialised in the financial markets and in infrastructure finance.

In 2013, BNP Paribas launched an online bank: Hello Bank! The online bank is present in Germany, Belgium, France, and
Italy and offers mortgages, consumer credits.

Source: Company Financial Networking Group. All rights reserved. External sources: S&P Global Market 3
Intelligence, Thomson Reuters, Bloomberg and Investing.com
 Advisor of the week

BNP PARIBAS RECENT ADVISED DEALS

September 2020 – BNP Paribas advised EP Global Commerce VI GmbH in a takeover offer for Metro AG in a transaction that values the
German retailer at €5.8bn. By its voluntary public takeover offer, EP Global Commerce aims to increase its investment in METRO AG
above 30% to give itself more flexibility in the future and without having to make a mandatory takeover offer. The ultimate
shareholders of EP Global Commerce are long-term oriented investors who have the goal to support strengthening METRO's position and
operating performance as a leading.

September 2020 – BNP Paribas advised PacStar, a leading provider of tactical communications solutions for battlefield network
management, in its sale to Curtis-Wright Corporation for $400m in cash. The acquired business will operate within Curtiss-Wright’s
Defense segment and is expected to generate sales in excess of $120m in 2021.

September 2020 – BNP Paribas has provided term loans to Altice Europe, whose founder Patrick Drahi through Next Private BV has
offered to buy €2.5bn of the shares he does not already own to take the French telecoms group private. The offer price represents a
premium of 23.8% to Altice Europe's Sept. 10 closing price of €3.32.

August 2020 – BNP Paribas advised Sanofi in the sale of of OTC dermocosmetics and other treatment brands in Poland, Ukraine and
Russia to Perrigo Company plc. It is a global provider of self-care products and has acquired three Eastern European OTC skincare and
hair loss treatment brands (Emolium, Iwostin and Loxon) from Sanofi. Trailing twelve months net sales ending June 30, 2020 for these
products were approximately $23m.

Source: Company Financial Networking Group. All rights reserved. External sources: S&P Global Market 4
Intelligence, Thomson Reuters, Bloomberg and Investing.com
5
Advisor of the week

TOP MANAGEMENT

Jean-Laurent Bonnafé Philippe Bordenave Nathalie Hartmann

• Director and CEO • Chief Operating Officer • Head Of Compliance
• Executive Board Member. • He joined BNP in 1985. • Joined the BNP Paribas in the
• He joined BNP in 1993. • He became Head of Global Markets Group’s Human Resources
• In 1997, he was appointed Head of from 1993 to 1997. Department.
Strategy and Development. • In 1998, he became Chief Financial • In 2014, she was appointed Head of
• In 2006 he was appointed Managing Officer for BNP. the Remediation and
Director of BNL (Banca Nazionale del • He became a member of the Group Transformation Plan for
Lavoro, an Italian subsidiary of Executive Committee in 2002. Compliance.
BNP). • Education: École Polytechnique • Since 2017, she has been Global
• Education: graduated in Engineering and École Nationale Head of Compliance and a member
from École Polytechnique and École d’Administration. of the Executive Committee.
des Mines.

Financial Networking Group. All rights reserved. External sources: S&P Global Market 5
Intelligence, Thomson Reuters, Bloomberg and Investing.com
 Advisor of the week

BNP PARIBAS SHAREHOLDERS

BNP Paribas SA Employee

Stock Ownership Plan
Government of 3.13% Dodge & Cox
Belgium 2.48%
7.73%
Government of The Vanguard Group, Inc.
Luxembourg 2.43%
1.03%

Lyxor International
Amundi Asset Asset Management SAS
Management SA 2.19%
1.09%
Capital Research & Norges Bank Investment
Management Co. Fidelity Management Management
1.18% & Research Co. LLC 2.15%
1.23%

Source: MarketScreener Financial Networking Group. All rights reserved. External sources: S&P Global Market 6
Intelligence, Thomson Reuters, Bloomberg and Investing.com
 Advisor of the week

DISCLAIMER
This report has been prepared by Financial
Networking Group for information
purposes only. No information published in
this report constitutes a solicitation or
offer, or recommendation, to buy or sell
securities of any other financial
instruments. Although we have used
sources believed to be accurate, we do
not guarantee either the accuracy or
completeness of this report. No reliance
should be placed on the information in this
document to transact in financial products
and no liability is accepted for any loss
arising from reliance on it.
Any opinions expressed are subject to
change without notice. Investors are
expected to make their own investment
decisions without relying on this
information. You should obtain specific
advice from qualified
experts before making any investment
decision.

Financial Networking Group. All rights reserved. External sources: S&P Global Market 7
Intelligence, Thomson Reuters, Bloomberg and Investing.com