| LA BANQUE POSTALE ENTERS EXCLUSIVE NEGOTIATIONS WITH NEXITY TO PURCHASE ITS STAKE IN CILOGER |
| Paris, 9 april 2015 |
The Supervisory Board of La Banque Postale, meeting yesterday, has authorised the entry into exclusive negotiations with Nexity to acquire Nexity's stake in the share capital of Ciloger.
This acquisition would bring La Banque Postale's stake in Ciloger to 90%, up from its current holding of 45%.
The move is fully in line with La Banque Postale's aim of developing its operations in asset management for the benefit of its clients.
The sale of this non-strategic asset will have no significant impact on Nexity's 2015 financial statements.
In addition to this sale, La Banque Postale and Nexity intend to strengthen their partnerships in real estate and financial operations.
Pending approval of the deal by competent authorities, the transaction is expected to take place during the second quarter of 2015.
