The subsidiary of La Poste wants to buy back the 15% stake in the insurer that it does not yet hold.
Last straight line for the takeover of CNP Assurances by La Banque Postale. The young bank launched its simplified takeover bid on Monday for its subsidiary, a French heavyweight in life insurance (1.55 billion euros in profits in 2021).
The operation, which will end on the evening of May 31, should allow it to hold 100% of CNP Assurances. To date, the La Poste subsidiary claims just over 85% of the capital. If it crosses the 90% threshold by May 31, La Banque Postale will withdraw CNP Assurances from the Paris Stock Exchange, where it took its first steps in 1998. The price offered to shareholders (including 2 to 3% of individuals , institutions and index funds) is 20.90 euros per share (dividend of 1 euro detached). The board of directors of CNP Assurances, which will remain in place at the end of the operation, issued a favorable opinion on the offer on April 7, and recommended that its shareholders tender their shares.
“This is an important step in…