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BNP’s $16 Billion Windfall Boosts Bank’s European Deal Hunt

  • French lender has said it will pursue bolt-on acquisitions
  • Possible targets could include custody or insurance business
BNP Paribas SA Beats Wall Street Peers With Debt Trading Surge
Photographer: Nathan Laine/Bloomberg
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BNP Paribas SA’s sale of its U.S. operations to Bank of Montreal won’t just reshape North American finance. It could also shake up Europe’s banking landscape.

The $16.3 billion deal -- if approved -- will provide BNP Paribas with a war chest to pursue an acquisition in Europe. The French lender has said it will use the proceeds for buybacks and bolt-on acquisitions, prompting speculation about who it might target.