|
Further
to its announcement dated 22 July 2008, CNP Assurances announces the completion
of the agreement for the long-term partnership with Marfin Popular Bank for the
development of the insurance business in Greece and Cyprus through the Marfin Popular Bank networks
in Greece and
Cyprus.
The
terms of the agreement include the transfer of 50.1 % of the share capital
of Marfin Insurance Holdings, which is the insurance arm of the Marfin Popular
Bank Group and also a ten year renewable exclusive distribution agreement with
an extension option in the other countries in which Marfin Popular Bank
operates.
As
announced, CNP paid the amount of €145 Million for the acquisition of the
50.1 % of Marfin Insurance Holdings.
Marfin
Insurance Holdings owns 100% of Laiki Cyprialife (life insurance in
Cyprus), Laiki Insurance
(general insurance in Cyprus), Marfin Life (life insurance in
Greece) and Marfin Brokers
(insurance brokerage in Greece).
Press
Relations Sophie Messager Tel : +33 (0)1 42 18 86 51 E-mail :
servicepresse@cnp.fr
Investor and Analyst
Relations Jim Root
Tel : +33 (0)1 42 18 71 89
Jean-Yves Icole
Tel : +33 (0)1 42 18 94 93 E-mail : infofi@cnp.fr
Some of the statements contained in this press release may be
forward-looking statements referring to projections, future events, trends or
objectives which, by their very nature, involve inherent risks and
uncertainties. Actual results could differ
materially from those currently anticipated in such statements by reason of
factors such as changes in general economic conditions and conditions in the
financial markets, legal or regulatory decisions or changes, changes in the
frequency and amount of insured claims, particularly as a result of changes in
mortality and morbidity rates, changes in surrender rates, interest rates,
foreign exchange rates, the competitive environment, the policies of foreign
central banks or governments, legal proceedings, the effects of acquisitions and
the integration of newly-acquired businesses, and general factors affecting
competition.
Further information regarding factors which may cause results to
differ materially from those projected in forward looking statements is included
in CNP Assurances’ filings with the Autorité des Marchés Financiers. CNP Assurances does not undertake to update any
forward-looking statements presented herein to take into account any new
information, future event or other
factors. |