Disposal of Groupe BPCE’s remaining stake in Foncia
Groupe BPCE announces the signing of an agreement with Bridegpoint and Eurazeo regarding the disposal of its entire interests in Foncia.
Groupe BPCE announces today the conclusion of an agreement with Bridgepoint and Eurazeo regarding the disposal, for an amount of €185m, of all its securities held in Foncia (18% of capital of Foncia Holding, 1.9% of capital of Foncia Groupe and all its bonds).
This transaction, expected to be completed at the end of November, follows the July 2011 majority disposal of Foncia Groupe to Bridgepoint and Eurazeo.
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – 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 major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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