Published on June 3, 2022

La Banque Postale successfully completed its simplified tender offer for CNP Assurances shares

La Banque Postale holds 97.79% of the share capital and 98.56% of the voting rights of CNP Assurances and will request the implementation of a squeeze-out procedure;

 The success of the transaction is a further step forward in the strengthening of La Banque Postale Group’s bancassurance model and the continued multi-partnership and international expansion of CNP Assurances.

La Banque Postale is pleased with the final results of the simplified tender offer initiated by La Banque Postale for the shares of CNP Assurances, published on Friday, June 3, 2022, by the Autorité des Marchés Financiers (AMF) and available on its website (notice no. 222C1368).

La Banque Postale directly holds 671,412,118 shares representing  97.79% of the share capital and 98.56% of the voting rights of CNP Assurances (and held directly 97.67% of the share capital and 98.49% of the voting rights at the close of the simplified tender offer).

As a result, La Banque Postale will request in the next few days to the AMF the implementation of a squeeze-out procedure in order to have the CNP Assurances shares not tendered to the Offer transferred to it, in accordance with the provisions of Articles L. 433-4, II, of the French Monetary and Financial Code and 237-1 et seq. of the AMF's General Regulation and with its intentions set out in the offer document dated April 26, 2022.

The squeeze-out will be carried out on the same financial terms as the simplified tender offer, i.e., 20.90 euros per CNP Assurances share (with a 1-euro dividend detached), and will be subject to a notice from the AMF.

"The success of this tender offer is a major step forward in the creation of the large public financial group announced by the French Minister of the Economy and Finance in 2018. This new and transforming page for the La Banque Postale Group is part of the strengthening of its model as an international bancassurer developing in all its markets. We are delighted to be able to count on the commitment of all the employees of La Banque Postale and its subsidiaries to support this ambitious development project for the benefit of all our customers, employees and partners.”

Philippe Heim

Chairman of the Executive Board of La Banque Postale