UPDATE 1-BNP Paribas to sell 7 pct of Klepierre in placement

May 6, 2015 4:55 PM

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PARIS May 6 (Reuters) - French bank BNP Paribas said on Wednesday it was selling part of its stake in French shopping mall operator Klepierre through a private placement with institutional investors.

France's biggest bank announced plans to sell 22 million shares, or 7 percent of Klepierre's capital. U.S. malls group Simon Property Group has placed an order for a 2 percent stake as part of the placement.

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