PARIS, February 26 /PRNewswire-FirstCall/ -- On 24 February 2009, during the meeting of CNP Assurances' Board of Directors, the director representing Caisse Nationale des Caisses d'Epargne (CNCE) informed the Company that the CNCE had decided to transfer its CNP Assurances' shares to the new central body of the merged Caisses d'Epargne and Banques Populaires groups.
CNP Assurances has good reason to believe that the planned transfer will preserve the long-term nature of Caisses d'Epargne Group's stake in the Company in the same way as if the shares had been allocated among the 17 regional Savings Banks, in line with the earlier plan announced by CNCE at the meeting of CNP Assurances' Board on 16 December 2008.
BFBP and CNCE
will participate equally in providing $1.
Baofu Yang, CNCE s Vice President said: It has been an honour for CNCE to be a member of the ICA.
On the three specific areas of collaboration, the MoU will be aimed on Applying ICA Bylaws & Rules in CNCE s Electronic Trading Platform , Sharing technical information to help establish a China based testing laboratory, Rendering cotton trade and quality testing training.
As the holding company of the Group, the CNCE pursues its activities at the head of the Group.
As the banker to the Group, the CNCE is responsible, in particular, for the centralized management of any surplus funds held by the individual Caisses d'Epargne and for proceeding with any financial transactions useful for the development and refinancing of the Group.
Commerce exterieur: La recette du CNCE
pour resorber le deficit commercial.
The Chinese market has seen prices spike to record levels this season, with the CC index currently at 123 cents per pound and the CNCE
and Zhengzhou July contracts trading at 127 cents and 125 cents, respectively.
the holding company for CIFG's Triple-A rated financial guaranty subsidiaries, today announced that Natixis and its controlling shareholders, Banque Populaire Group ("BFBP") and Caisse D'Epargne Group ("CNCE
"), have agreed that BFBP and CNCE
will provide $1.
The transaction was envisioned in the letter of intent covering Caisse des Depots et Consignations' withdrawal from the capital of Caisse Nationale des Caisses d'Epargne (CNCE
) and was completed on the terms agreed between CNP Assurances and CNCE
, as approved by their respective Supervisory Boards on 14 September and 10 October 2006.
Based on and subject to the foregoing, it is our opinion, as of the date hereof, that the Consideration to be paid by the Company to CNCE
in respect of the Transaction is fair to the shareholders of the Company taken as a whole.