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An Introduction To Convenient Methods For La Banque Postale Examined

Law office 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 as well as the SNCF. Sofiap is providing property loans to French railroad employees (cheminots SNCF).

This deal happened within the context of the liquidation plan of Credit Immobilier de France underneath the aegis from the European Commission. It implied the establishing of the EUR1.3 billion refinancing plan, together with a securitisation scheme along with a tripartite negotiation with CIF and SNCF. La Banque Postale and SNCF also put into a joint-venture agreement governing their future relationships in Sofiap.

Moreover, the firm also advised La Banque Postale with regards to the acquisition of certain assets from BPI (Banque Patrimoine et Immobilier) will permit La Banque Postale, through its newly acquired subsidiary Sofiap, to provide property loans on the employees of your EDF and GDF groups.

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

This acquisition will bring La Banque Postale’s stake in Ciloger to 90%, up from the current holding of 45%. The rest of the 10% is still held by CNP Assurances. The latest venture is anticipated to find out the very first loan offers being made right at the end of 2012, susceptible 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 by simply following the identical principles as all of its new activities: a gradual launch, by using a policy of managed risk devipky99 one of profitable growth.”

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



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