On 16 December, La Banque Postale announced it has acquired for € 2.4 Bn the whole stake of Groupe BPCE in CNP Assurances, representing 16.1% of the capital, at the price of €21.90 per share*. This operation follows the press release of 28 October 28. With this acquisition, La Banque Postale's stake in CNP Assurances is now 78.9%.
Following the acquisition of Groupe BPCE’s stake and subject to obtaining the necessary regulatory authorizations, La Banque Postale plans to file a simplified public tender offer with Autorité des marchés financiers (AMF) in the first half of 2022 regarding the 21.1% of CNP Assurances’ capital that it does not hold yet.
We are delighted to take this important step in the project to merge and simplify our shareholding in CNP Assurances. At the same time, we confirm our willingness to strengthen the industrial partnership between BPCE and CNP Assurances, in accordance with its open and multipartnership model which has made CNP Assurances so successful. This is another step towards building a European leader in bancassurance within the large public financial group.
Philippe Heim, Chairman of the Board of Directors of La Banque Postale
Access the press release and know more
Read our article La Banque Postale plans to take control of CNP Assurances
* Cum dividend