Natixis and Arch Capital Group Ltd. announce the completion of share purchase agreement for 29.5% stake in Coface
Following satisfaction of antitrust and regulatory conditions, Natixis and Arch Capital Group Ltd. [NASDAQ: ACGL] announce today the completion of the disposal by Natixis of a stake of 29.5% in Coface’s share capital to Arch Financial Holdings Europe IV Limited, an affiliate of Arch Capital Group Ltd., at a price of 9.95€ per share (dividend attached).
Natixis is no longer represented at Coface’s Board of Directors with Arch assuming four of Natixis’ seats. Natixis will hold its remaining 12.7% stake in Coface as a financial participation.
Arch Capital Group Ltd., a Bermuda-based company with approximately $15.8 billion in capital at Dec. 31, 2020, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.
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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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