La Banque Postale's simplified tender offer for CNP Assurances shares a success

CNP Assurances Groupe La Poste

On 3 June, La Banque Postale announced that it had successfully completed its simplified tender offer for CNP Assurances shares. From now on, La Banque Postale holds 97.79% of the share capital and 98.56% of the voting rights of CNP Assurances.

The success of this tender offer is a major step forward in the creation of the large public financial group announced by the French Minister of the Economy and Finance in 2018. This new and transforming page for the La Banque Postale Group is part of the strengthening of its model as an international bancassurer developing in all its markets. We are delighted to be able to count on the commitment of all the employees of La Banque Postale and its subsidiaries to support this ambitious development project for the benefit of all our customers, employees and partners.
Philippe Heim, Chairman of the Executive Board of La Banque Postale

Read the press release on Groupe La Poste website

 

This operation is the last step in the creation of the large public financial group under the leadership of Caisse des Dépôts (see our article Caisse des Dépôts now leading the major public financial pole).