BNP Paribas to Buy South Africa’s Cadiz Securities Unit, Les Echos Reports

BNP Paribas (BNP) SA plans to buy 60 percent of the brokerage unit of Cadiz Holdings Ltd. (CDZ), Les Echos reported, without saying where it got the information.

The stake BNP is buying is worth about 10 million euros, the Paris-based newspaper said. Cadiz Chief Executive Officer Ram Barkai will respond to requests for comment at about 9 a.m. Johannesburg time, Sonia Jamoulle, a spokeswoman for Cape Town- based Cadiz, said in a text message today.

Cadiz on June 30 said it is in talks with an international bank about a potential transaction involving its securities business, without giving more detail.

To contact the editor responsible for this story: Vernon Wessels at vwessels@bloomberg.net

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