By Noemie Bisserbe

PARIS--French bank BNP Paribas SA (BNP.FR) said it had initiated the sale of its remaining 6.5% stake in real estate group Klepierre in a private placement to institutional investors.

"This transaction is part of BNP Paribas' active management of its equity investment portfolio," said the company in a statement . "The result of the private placement will be announced after the closing of the bookbuilding," it added.

In May, BNP Paribas had already sold a 7% stake in Klepierre and said it would keep the 6.5% stake it still held in the real estate company for at least 90 days.

-Write to Noemie Bisserbe at noemie.bisserbe@wsj.com

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(END) Dow Jones Newswires

November 02, 2015 12:27 ET (17:27 GMT)

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