FOXBusiness.com: BNP Paribas Unit: Stake in SNS Reaal Never Been "Substantial"

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BNP Paribas Unit: Stake in SNS Reaal Never Been "Substantial" Feb 1st 2013, 15:05 BNP Paribas Investment Partners, a unit of French bank BNP Paribas SA (BNP.FR), said Friday that its stake in now nationalized Netherlands-based banking and insurance company SNS Reaal NV (SR.AE) "has never been substantial." In an emailed statement, BNP Paribas Investment Partners confirmed its exposure via some of its funds to SNS Reaal, adding that this "is moderated by the diversified investment strategy in the relevant investment portfolios." The Dutch government said Friday that the company will be nationalized following unsuccessful talks with private investors on a capital boost after heavy outflows of deposits had pushed the lender close to collapse in recent days.

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