CNP Assurances, aimed at La Banque Postale

La Banque Postale (LBP) intends to acquire 21.1% of CNP Assurances' capital for 21.9 EUR (24.3 USD) per share. For this purpose, the banking institution is conducting negotiations with the BPCE group for the purchase of its entire 16.1% stake in the insurer's capital.

This transaction, subject to the approval of the relevant authorities, would raise LBP's stake in the capital of CNP Assurances to 78.9%.

The French bank intends to file a simplified tender offer for the remaining 5% of the insurance company's minority shareholders.