La Banque Postale has filed its takeover bid for minority shareholders in CNP Assurances -AMF, Company news

PARIS (Agefi-Dow Jones)–La Banque Postale has filed with the Autorité des marchés financiers (AMF) its draft simplified takeover bid (OPAS) for the minority shares of CNP Assurances, according to a notice from the AMF published on Wednesday.

As part of this offer, La Banque Postale “irrevocably undertakes to acquire, at a price of 21.90 euros per share (2021 dividend attached), all of the 144,164,478 CNP Assurance shares not held by [le groupe]representing 21% of the capital of this company”. The timetable for the operation has not yet been set.

The public banking group had announced at the end of October its intention to launch the buyout of the minority shareholders of the life insurer in order to promote “the emergence of a simplified and integrated group, while preserving the multi-partner and international model which makes the success of CNP Assurances”.

LBP has since acquired 16.1% of the capital of CNP Assurances from the BPCE group, and currently holds 78.9% of the capital.

“The initiator intends to request, at the end of the closing of the offer, and if the required conditions are met, the implementation of a compulsory withdrawal” of CNP Assurances shares, specified the AMF.

-Francois Schott, Agefi-Dow Jones; 01 41 27 47 92; ed: LBO

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March 16, 2022 07:23 ET (11:23 GMT)

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