The transactions relating to the creation of the major public financial pole were completed on 4 March. Caisse des Dépôts becomes the majority shareholder of La Poste, while La Banque Postale becomes the majority shareholder of CNP Assurances. A new entity dedicated to the major changes in society and to regional development is born.
The transactions carried out on 4 March :
- The French State and Caisse des Dépôts transferred to La Poste their respective stakes of approximately 1.1% and 40.9% in the capital of CNP Assurances and received in exchange shares in La Poste as part of a capital increase;
- La Poste transferred to La Banque Postale all the CNP Assurances shares received from the State and Caisse des Dépôts in exchange for shares in La Banque Postale as part of a capital increas ;
- Caisse des Dépôts acquired an additional stake in the capital of La Poste from the French State for nearly €1bn.
Henceforth :
- Caisse des Dépôts holds 66% of the capital and voting rights of La Poste and the State holds 34%;
- La Banque Postale, a wholly-owned subsidiary of La Poste, holds 62.1% of CNP Assurances’ capital, the balance of which is held by BPCE (16.1%) and the remaining 21.8% by the public float.
La Poste’s General Meeting held on 4 March to approve these transactions also restructured the Board of Directors. Philippe Wahl was reappointed Chairman and Chief Executive Officer of La Poste.
To find out more, read the press release
Under the terms of a binding agreement signed by the French State, Caisse des Dépôts and La Banque Postale announced on 4 March, Caisse des Dépôts will buy all of La Banque Postale's 5% stake in SFIL and all of the State's stake (75%) with the exception of one ordinary share, which the State will retain. Caisse des Dépôts will thus become the reference shareholder of SFIL, France's seventh-largest bank in terms of balance sheet size, serving the local public sector and French exports.
Read the press release
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