Wells Fargo To Buy BNP Paribas Energy Loan Unit

Law360, New York (February 21, 2012, 9:50 PM EST) -- Wells Fargo Bank NA has agreed to buy BNP Paribas SA's reserve-based energy lending business, which has about $9.5 billion in loan commitments and $3.9 billion in outstanding loans, the banks said Tuesday.

The transaction involves the division of BNP Paribas Corporate & Investment Banking that issues energy companies loans backed by oil and natural gas reserves, and is expected to close in the second quarter of 2012, BNP Paribas said in a statement . The banks didn't disclose the amount to be paid in what...
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