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BNP Paribas's Cetelem acquires Facet's stake from PPR Group

07 Jul '05

2 min read

Luxury goods retailer PPR and banking & financial service provider BNP Paribas announced they have signed an agreement under which Cetelem, a BNP Paribas subsidiary, has acquired PPR Group's remaining 10% stake in Facet (Conforama's card business).

The transaction is valued at EUR 90 million.

PPR (formerly Pinault-Printemps-Redoute) is a global player in Retail and Luxury Goods, with 82,000 employees in 65 countries. Through its Retail businesses Printemps, Conforama, Redcats, Fnac and CFAO, and the Luxury brands of Gucci Group (Gucci, Yves Saint Laurent, Bottega Veneta, YSL Beauté, Boucheron, Sergio Rossi, Bédat & Co, Alexander McQueen, Stella McCartney and Balenciaga), PPR generated sales of EUR 17.8 billion in 2004. (Including Rexel, which was divested at the end of 2004, the Group's consolidated sales for 2004 amounted to EUR 24.2 billion.)

BNP Paribas is a European leader in banking and financial services, with a significant and growing presence in the United States and leading positions in Asia. BNP Paribas is the first bank in the Euro zone in terms of net income (2004). The group has one of the largest international banking networks, present in over than 85 countries with close to 100,000 employees, including 67,000 in Europe. BNP Paribas enjoys key positions in its three core businesses: Corporate and Investment Banking, Asset management & Services and Retail Banking.

PPR Group

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