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.


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