No-Hassle La Banque Postale Examined Plans Around The Usa

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

This deal happened from the context in the liquidation plan of Credit Immobilier de France underneath the aegis of your European Commission. It implied the establishing of your 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.

In addition, the firm also advised La Banque Postale with regards to the acquisition of certain assets from BPI (Banque Patrimoine et Immobilier) enables La Banque Postale, through its newly acquired subsidiary Sofiap, to supply property loans to the employees of the 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 is a French asset manager specialised in real 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 will bring La Banque Postale’s stake in Ciloger to 90%, up looking at the current holding of 45%. The remainder 10% will still be held by CNP Assurances. The latest venture is expected to discover the first loan offers being made towards the end of 2012, subject 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 using 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 step with La Banque Postale’s aim of developing its operations in asset management for the main benefit of its clients. The sale on this non-strategic asset could have no significant influence on Nexity’s 2015 financial statements,” say La Banque Postale and Nexity in a joint press release. Moreover, La Banque Postale and Nexity intend to strengthen their partnerships in actual estate and financial operations.