BNP Paribas

Deals

• Jul 2021·acquired FLOA — BNP Paribas bought 100% of FLOA, a French provider of split payments (buy now, pay later) at merchant checkouts and of consumer credit, for a total consideration of €258M against €184M of equity at end-2020. The proceeds were divided equally, €129M each to Casino Group and BFCM. As part of the deal BNP Paribas became exclusive provider of consumer credit, including split payment, for the Casino Supermarchés, Géant and Cdiscount banners, and Casino kept a stake in the success of the FLOA PAY split-payment product. Casino's release of 27 Jul 2021 announced the signed exclusivity agreement, subject to approval by the French competition authority and the ECB. FLOA's own site dates the completion: 'Depuis février 2022, Floa a rejoint le groupe BNP Paribas' (https://www.floabank.fr/entreprise/qui-sommes-nous).
• Jul 2021·sold Worldline — Worldline signed a binding agreement on 1 Jul 2021 to acquire 80% of Axepta Italy from BNL, part of the BNP Paribas group, at a €220M enterprise value and completed it on 4 Jan 2022. Axepta Italy handled about 200 million acquiring transactions a year for about 30,000 merchants through about 220,000 POS.