Bpce BPCE today announced it has entered into exclusive negotiations with Ripplewood Advisors LLC related to the proposed disposal of the entire share capital of Fidor Bank AG
BPCE today announced it has entered into exclusive negotiations with Ripplewood Advisors LLC related to the proposed disposal of the entire share capital of Fidor Bank AG.
Paris, August 3
This project will shortly be presented to BPCE employee representative bodies by means of an information-consultation procedure.
Closing of the proposed transaction, which will subject to customary regulatory approvals, is currently anticipated in the course of H1 2021.
About Groupe BPCE
Groupe BPCE, with its business model as a universal cooperative bank represented by 9 million cooperative shareholders, is currently the 2nd-largest banking group in France. With its 105,000 employees, it serves a total of 36 million customers – individuals, professionals, corporates, investors, and local government bodies – around the world. It operates in the retail banking and insurance sectors in France via its two major Banque Populaire and Caisse d’Epargne banking networks, along with Banque Palatine. With Natixis, it also runs global business lines specializing in Asset & Wealth management, Corporate & Investment Banking, Insurance and Payments. Through this structure, it is able to offer its customers a comprehensive, diversified range of products and services: solutions in savings, investment, cash management, financing, and insurance. The Group's financial strength is recognized by four financial rating agencies: Moody's (A1, outlook stable), Standard & Poor's (A+, outlook negative), Fitch (A+, RWN) and R&I (A+, outlook stable).
Press Contact Groupe BPCE
Christophe Gilbert : 33 (0)1 40 39 66 00 / 33 (0)6 73 76 38 98