CNP Assurances: waiver to obligatory takeover bid
(CercleFinance.com) - The Autorité des marchés financiers (AMF) yesterday ruled on requests for exemption from the obligation to launch a takeover bid on CNP Assurances as part of the project to establish a major public finance department.
For the time being, CNP Assurances' capital is held by Caisse des Dépôts (CDC; 40.9% of the capital), the Sopassure holding company (36.3%), which itself associates Banque Postale and BPCE, and the State (1.1%). These shareholders are currently bound by a pact.
The CDC thus presented the transaction on 12 June: it is a matter of the contribution by the State and the Caisse des Dépôts to La Poste, then by La Poste to La Banque Postale, of their respective stakes of 1.11% and 40.9% in CNP Assurances. La Poste would thus be majority-owned by Caisse des Dépôts, and La Banque Postale's shareholding in CNP Assurances (...) would reach 62.1%.
CNP Assurances' current major shareholders had to obtain a waiver from the obligation to launch a takeover bid on the balance of the capital from the AMF, an authorisation that was granted yesterday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
For the time being, CNP Assurances' capital is held by Caisse des Dépôts (CDC; 40.9% of the capital), the Sopassure holding company (36.3%), which itself associates Banque Postale and BPCE, and the State (1.1%). These shareholders are currently bound by a pact.
The CDC thus presented the transaction on 12 June: it is a matter of the contribution by the State and the Caisse des Dépôts to La Poste, then by La Poste to La Banque Postale, of their respective stakes of 1.11% and 40.9% in CNP Assurances. La Poste would thus be majority-owned by Caisse des Dépôts, and La Banque Postale's shareholding in CNP Assurances (...) would reach 62.1%.
CNP Assurances' current major shareholders had to obtain a waiver from the obligation to launch a takeover bid on the balance of the capital from the AMF, an authorisation that was granted yesterday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.