BNP Paribas to Fully Acquire Exane

BNP Paribas has confirmed plans to fully acquire its long-standing partner and equity brokerage Exane in a bid to position itself as a leading provider in European equities. The investment bank said it will acquire the remaining 50% stake of Exane following a 17-year partnership between the two entities according to a story in The Trade news. Exane has operated the cash equities and research business, alongside equity capital market transactions for BNP Paribas since 2004. The deal to fully acquire the Exane brokerage will bring these activities back in-house at BNP Paribas. The Exane acquisition also follows a major deal between BNP Paribas and Deutsche Bank in mid-2019. BNP Paribas agreed to take on Deutsche Bank’s electronic equities and prime brokerage clients after the German institution decided to exit both businesses under a major restructure.