Canaccord Genuity advises Abbey on its disposal of of Abbey National France to BNP
On 23 November 2004 Abbey plc announced the disposal of Abbey National France ("ANF") to BNP Paribas. ANF is a provider of residential mortgages in France. ANF has assets of approximately £2.1 billion and employs 219 people across France. The sale of ANF was part of Abbey's strategy of focusing solely on providing personal financial services in the UK.
Abbey appointed Canaccord Genuity to assist in the disposal of its French operations. This transaction represents the second stage in the realisation of this overall strategic goal, the first being the disposal of Royal Saint Georges Banque to GE Capital Bank in December 2003.
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