Belgium has launched the sale of 2.7% of the capital of BNP Paribas, an operation whose amount was not specified but which, according to the Belgian newspaper L'Echo, could bring in two billion euros for the Belgian state.

This sale, carried out through the accelerated constitution of an order book with qualified investors, will reduce the stake of the Belgian State, currently the largest shareholder in the French bank, from 7.8% to around 5.1% of the capital, the Belgian State's shareholding agency (SFPI) said in a press release.

There was no immediate comment from BNP Paribas.

BNP Paribas Fortis, BofA Securities and Goldman Sachs International are acting as joint bookrunners for the offer, while Lazard and Allen & Overy LLP are acting as financial advisor and legal advisor respectively to SFPI, it added. (Reported by Tassilo Hummel, Bertrand Boucey and Jean Terzian)