Simple La Banque Postale Examined Programs – An Intro

Lawyer Eversheds has advised its client la banque postale on the significant acquisition. This deal involved the EUR38 million acquisition of your majority shareholding (66%) in Sofiap (Société Financière pour l’Accession à la Propriété) from both Credit Immobilier de France along with the SNCF. Sofiap is providing property loans to French railroad employees (cheminots SNCF).

This deal occurred from the context of the liquidation plan of Credit Immobilier de France underneath the aegis in the European Commission. It implied the setting up of a EUR1.3 billion refinancing plan, including a securitisation scheme as well as a tripartite negotiation with CIF and SNCF. La Banque Postale and SNCF also entered a joint-venture agreement governing their future relationships in Sofiap.

Furthermore, the firm also advised La Banque Postale with regards to the acquisition of certain assets from BPI (Banque Patrimoine et Immobilier) will allow La Banque Postale, through its newly acquired subsidiary Sofiap, to deliver property loans for the employees in the EDF and GDF groups.

French financial group La Banque Postale has entered exclusive negotiations with Nexity in order to purchase its stake in Ciloger. Ciloger is really a French asset manager specialised in actual estate with €4.5bn of assets under management and distributes real estate products (SCPI and OPCI) from groups La Banque Postale and Caisse d’Epargne.

This acquisition would bring La Banque Postale’s stake in Ciloger to 90%, up from its current holding of 45%. The remainder 10% is still held by CNP Assurances. The new venture is anticipated to discover the 1st loan offers being made towards the end of 2012, subjected to the approval of banking and competition authorities in France.

Philippe Wahl, CEO of postal banking, said: “La Banque Postale will enter this new market following the same principles as all of its new activities: a gradual launch, by using a policy of managed risk devipky99 a model of profitable growth.”

“The move is fully in line with La Banque Postale’s objective of developing its operations in asset management for the main benefit of its clients. The sale of this non-strategic asset could have no significant effect on Nexity’s 2015 financial statements,” say La Banque Postale and Nexity in the joint press release. Moreover, La Banque Postale and Nexity mean to strengthen their partnerships in real estate and financial operations.

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