Groupe BPCE finalizes the sale of its equity interest in Crédit Immobilier et Hôtelier
Paris, January 20, 2012
Groupe BPCE today finalized the sale of its 23.8% indirect equity interest in Crédit Immobilier et Hôtelier (CIH), to the Caisse de Dépôt et de Gestion marocaine (CDG). All the suspensive conditions related to the transaction have been fulfilled; the transaction is legally effective as of today.
Since July 2006, Groupe BPCE, through BPCE International et Outre-mer, has held an indirect equity interest in CIH via Massira Capital Management (MCM), a subsidiary jointly owned by the French group.
CDG and Groupe BPCE express their satisfaction with the quality of their partnership between 2006 and 2011, which enabled them to turn CIH around and to give it the means it required to adopt a universal banking model. Now, however, the two groups want to change their relationship as joint shareholders. Groupe BPCE will continue to pursue its commercial relations with CIH.
About Groupe BPCE
Groupe BPCE, the 2nd-largest banking group in France, includes two independent and complementary commercial banking networks: the network of 19 Banque Populaire banks and the network of 17 Caisses d'Epargne. It also works through Crédit Foncier de France in the area of real estate financing. It is a major player in corporate & investment banking, asset management and financial services with Natixis. Groupe BPCE serves more than 36 million customers and enjoys a strong presence in France with 8,000 branches, 117,000 employees and more than 8 million cooperative shareholders.
About BPCE International et Outre-mer
BPCE International et Outre-mer houses all the Group's commercial banking subsidiaries and equity interests outside France. It is comprised of 14 banks - 11 of which are majority owned - that are currently based in Guadeloupe, French Guiana, Martinique, Mayotte, New Caledonia, French Polynesia, Reunion Island, Saint Barthélemy, Saint Martin, Saint Pierre et Miquelon and, in the international market: in Africa - Cameroon, Congo, Mali, and Tunisia; in the Indian Ocean - Madagascar and Mauritius; and in Europe - Luxembourg.
In addition to these banking institutions, BPCE International et Outre-mer owns two subsidiaries specialized in financial engineering and international consulting: Ingépar and Pramex International.
BPCE International et Outre-mer manages and supervises the overseas growth strategy and coordinates the development of its network and employs - via its majority-owned subsidiaries - an aggregate total of 3,300 employees working in 165 branches.
| BPCE Press contacts Sonia Dilouya : +33 1 58 40 58 57 Terence de Cruz : +33 1 40 39 64 30 presse@bpce.fr - www.bpce.fr | |
