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CNP Assurances — M&A Activity 2017
Feb 2, 2017
1208_iss_2017-02-02_c57927b5-f751-4020-935a-a25dcc2ec51b.pdf
M&A Activity
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Press release
Paris, 2 February 2017
CNP Assurances agreements to acquire 51% of Pan Seguros and Pan Corretora cease to be effective
As announced on April 21, 2016, CNP Assurances entered into agreements to acquire a 51% stake in Pan Seguros and Pan Corretora from Banco BTG Pactual ("BTGP").
As indicated in the press release dated April 21, 2016, the completion of such acquisition was subject to the fulfilment of various conditions precedent. In view of the fact that some of these conditions precedent have not been met, both CNP Assurances and BTGP acknowledged that the acquisition agreements ceased to be effective.
About CNP Assurances
CNP Assurances is France's leading personal insurer with net profits of €1,130 million in 2015. The Group also has operations in other European countries and in Latin America, with a significant presence in Brazil. It has more than 28 million personal risk/protection insureds worldwide and more than 13 million savings and pensions policyholders. For 160 years, CNP Assurances has been protecting people against the risks of everyday life. The Group designs and manages life insurance, pension, personal risk insurance and protection products (term creditor insurance and health insurance).
- In France, CNP Assurances distributes its individual insurance products through La Banque Postale and the Caisses d'Epargne, as well as through its own network: Amétis. In Brazil, its second largest market, the Group's partner is Caixa Econômica Federal, the country's second-biggest state-owned bank.
- In group insurance, CNP Assurances crafts tailor-made personal risk, pension and term creditor insurance products that are aligned with the needs of companies, local authorities, mutual insurers, non-profit organizations, and banks in Europe and Latin America. CNP Assurances has been listed on the Paris Stock Exchange since October 1998 (the first market) and has a stable shareholder structure thanks to the signing of an agreement between its major shareholders (Caisse des Dépôts, La Banque Postale, Groupe BPCE and the French State).
www.cnp.fr/en @CNP_Assurances
Contacts
Press
Florence de Montmarin | 01 42 18 86 51 Tamara Bernard | 01 42 18 86 19 [email protected]
Investors and analysts Vincent Damas | 01 42 18 71 31 Jean-Yves Icole | 01 42 18 86 70 [email protected]