BPCE acquires a 50.1% interest in Oney Bank SA: long-term alliance signed today between Auchan Holding and BPCE
Following exclusive talks entered into on 12 February, Auchan Holding and BPCE have today signed a long-term partnership agreement that sees BPCE taking on a 50.1% interest in Oney Bank. This follows a favourable opinion from the employee representation bodies at the companies involved.
Effective completion of the transaction is conditional on its approval by the competent authorities, and notably the relevant French and European bodies. As previously announced, it is earmarked for the second half of 2019.
Through this alliance, Oney Bank will be able to draw on the joint expertise of BPCE and Auchan Holding in order to plough ahead with its expansion and strengthen its status as a European leader in payment solutions, financing, digital profiling and insurance. The complementary fit between BPCE’s own solutions and locations and those of Oney Bank will enable the group BPCE to extend its scope of expertise in specialised financial services, particularly in payment solutions. Oney Bank currently operates in 11 countries. It employs 3,000 people, serves 7.6 million customers and works with 400 retailers and e-merchants.
Auchan Holding is the holding structure for three large complementary companies : Auchan Retail, present in 17 countries through different food retailing formats; Ceetrus, a global real estate player; Oney Bank, an international bank expert in payment, financing, digital identification and insurance solutions. Auchan Holding employs some 359,000 staff worldwide and posted consolidated turnover of €51.0 billion net of tax in 2018.
Press contact Auchan Holding
Marie Vanoye : 07 64 49 78 06
Groupe BPCE operates a universal cooperative banking model represented by 9 million cooperative shareholders and is the second-largest banking group in France. Through its 105,000 staff, the group serves over 30 million clients - individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two large networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine. With Natixis, it also runs global asset management, corporate & investment banking and payments business lines. The group leverages these extensive capabilities to offer a comprehensive and diversified array of deposits & savings, cash management, financing, insurance and investment solutions. Groupe BPCE is recognized for its financial solidity by four major financial rating agencies: Moody’s (A1, stable outlook), Standard &Poor’s (A+, stable outlook), Fitch (A+, stable outlook) and R&I (A, positive outlook).