Groupama sells its stake in Icade to Crédit Agricole Assurances for a consideration of €715 m

Groupama announces today the disposal of 9,596,200 shares in Icade to Crédit Agricole Assurances, representing 12.95% of Icade's share capital, i.e. Groupama's whole participation. The transaction value amounts to ca. 715 million euros, corresponding to 74.50 euros per Icade share sold.

Groupama announces today the disposal of 9,596,200 shares in Icade to Crédit Agricole Assurances, representing 12.95% of Icade’s share capital, i.e. Groupama’s whole participation. The transaction value amounts to ca. 715 million euros, corresponding to 74.50 euros per Icade share sold.

Through this operation, Groupama pursues its strategy of diversification of its financial assets, incorporating Icade’s good share price performance since the implementation of its new strategic plan.

Crédit Agricole Assurances thus strengthens its participation in Icade’s share capital, in which he has been a shareholder since 2013. With a 18.50% stake post transaction, Crédit Agricole Assurances demonstrates its commitment to Icade and its confidence in the company’s teams and value creation potential.

The transaction has been approved by the Boards of Directors of Groupama and Crédit Agricole Assurances.