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Merger of the BP Participations and CE Participations holding companies with BPCE
Merger of the BP Participations and CE Participations holding companies with BPCE
June 03, 2010 - At their meetings convened today, the Supervisory Board of BPCE and the Boards of Directors of BP Participations and CE Participations unanimously approved plans to merge the equity investment holding companies with BPCE, the central institution of the group.
This operation, planned and announced when Groupe BPCE was first created on July 13, 2009, will take effect at the end of the Annual General Shareholders’ Meetings of the three companies to be convened on August 5 later this year. It will conclude the process leading to the creation of BPCE, jointly owned by the Banque Populaire banks and the Caisses d’Epargne. It will also simplify the group’s organizational structure and represents a major step in the implementation of its strategic plan.
The assets brought into BPCE are, notably, Foncia and VBI for BP Participations and Crédit Foncier de France and Banque Palatine for CE Participations. Nexity will remain a subsidiary owned by the Caisses d’Epargne.