(Boursier.com) — CNP Assurances finalizes two transactions aimed at rationalizing the shareholding of its Italian joint ventures with UniCredit. This agreement, announced on July 27, 2022, makes it possible to develop its open model in Italy via its wholly-owned subsidiary CNP Vita Assicura SpA, while continuing its partnership with UniCredit.
He plans :
– the acquisition by CNP Assurances of UniCredit’s stakes (49%) in CNP Vita Assicura SpA (CVA) for €500 million, enabling it to increase its stake in this entity to 100%;
– the sale of 6.5% of the shares of CNP UniCredit Vita SpA (CUV) to UniCredit for 70 ME, CNP Assurances retaining a majority stake of 51% in CUV.
This operation is part of CNP Assurances’ development strategy in Italy, where the performance of its subsidiaries was significant in the first half of 2022. CNP Vita Assicura SpA’s share of revenue represents 29% of activities in the international and 48% of activities in Europe excluding France.
The acquisition price of 49% of CNP Vita Assicura SpA is financed by CNP Assurances from its own funds.
The impact on the Group’s SCR coverage ratio is approximately -1 percentage point.
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