BNP Paribas is to advise Axa and Le Crédit Foncier de France on the sale of their equity stakes in Simco, one of France's biggest quoted property companies.

According to Les Echos, a French business daily, should Axa, which holds a 31.66% stake in Simco, and Le Crédit Foncier, which owns a 20.93% stake, dispose of their combined holdings, the acquirer would be compelled to make a bid for the whole of Simco. Simco is currently valued at € 2.3bn ($2.25bn). BNP is setting up 'data rooms' to enable potential buyers to examine Simco's portfolio in greater detail.