Groupama sells its stake in Icade to Crédit Agricole Assurances for a consideration of €715 m

June 19 2017

Groupama announces today the disposal of 9,596,200 shares in Icade to Crédit Agricole Assurances, representing 12.95% of Icade’s share capital, i.e. Groupama’s whole participation. The transaction value amounts to ca. 715 million euros, corresponding to 74.50 euros per Icade share sold.

Through this operation, Groupama pursues its strategy of diversification of its financial assets, incorporating Icade’s good share price performance since the implementation of its new strategic plan.

Crédit Agricole Assurances thus strengthens its participation in Icade’s share capital, in which he has been a shareholder since 2013. With a 18.50% stake post transaction, Crédit Agricole Assurances demonstrates its commitment to Icade and its confidence in the company’s teams and value creation potential.

The transaction has been approved by the Boards of Directors of Groupama and Crédit Agricole Assurances.

Thierry Martel, Groupama’s CEO declares: “Groupama is proud of having accompanied Icade over the past few years and salutes the work accomplished by its teams, which has enabled to materially improve the performance of the company. Icade benefits from strong and promising fundamentals and from a shareholding base that allows it to look to the future with serenity and ambition.

Frédéric Thomas, Crédit Agricole Assurances’ CEO, explains: “This operation reinforces our commitment to Icade, in which we have been a long term shareholder for several years, and demonstrates our confidence in the potential of the company, its strategy and its teams.”

This press release does not constitute a sale offer, or a solicitation of share purchase. The offer on Icade’s shares by Groupama does not constitute a public offer.



This press release is made for information purposes only and does not constitute a sale offer or a solicitation of share purchase. The offer on Icade’s shares by Groupama does not constitute a public offer in any country, including France.

This press release is designed to be communicated directly or indirectly in the United Kingdom only to (i) professional investors corresponding to the article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005  (the “FSMA”) or (ii) high net worth entities and other persons potentially legally recipient corresponding to the article 49(2)(a) to (d) of FSMA (together with the persons designated under (i), the “authorised persons”), excluding all other persons.

The securities, to which this press release refers, have not, and will not be registered in the United States according to the 1933 U.S. Securities Act (the “Securities Act”). Those securities may not be bought or sold in the United States without such a registration or a registration exemption according to the Securities Act. No public offer on those securities will be made in the United States in the context of this operation.

Every investment decision related to the purchase of Icade shares should be made only on the basis of publicly disclosed information related to Icade. Groupama is not responsible for this information.

The communication, publication or distribution of this press release is forbidden in all countries where such communication, publication or distribution would be a violation of the applicable laws or rules.