COFACE SA Natixis has stated its intention to resign from COFACE’s Board of Directors after the closing of the transaction. Natixis also specified that its agreement with Arch states that, on this date, COFACE’s Board of Directors will be composed of ten members comprising four members proposed by Arch and six independent directors (including the current five independent directors).
COFACE’s Board of Directors, liaising with the
COFACE’s Board of Directors has been informed of the intention of Arch, valid for a twelve-month period as from closing of the transaction, not to take control of COFACE.
The closing of the transaction is subject to all required regulatory authorisations.
“This transaction marks the beginning of a new era for Coface. It reflects the recognition of the work accomplished by the company in connection with Fit to Win, and confirms the success of this strategy.
Arch Capital Group is a solid company, a specialist in the insurance sector with a recognized expertise, and a profitable growth path in its various businesses. We welcome the support expressed by Arch to the new strategic plan Build to Lead and the current management team.”
| CONTACTS | |
| MEDIA RELATION Saphia GAOUAOUI T. +33 (0)1 49 02 14 91 saphia.gaouaoui@coface.com | ANALYSTES / INVESTORS Thomas JACQUET T. +33 (0)1 49 02 12 58 thomas.jacquet@coface.com Benoit CHASTEL T. +33 (0)1 49 02 22 28 benoit.chastel@coface.com |
FINANCIAL CALENDAR 2020
(subject to change)
Investor Day: today (
Q1-2020 results:
Annual General Shareholders’ Meeting 2020:
H1-2020 results:
9M-2020 results:
FINANCIAL INFORMATION
This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: https://www.coface.com/Investors
For regulated information on Alternative Performance Measures (APM),
please refer to our Interim Financial Report for S1-2019 and our 2018 Registration Document.
| Coface: for trade - Building business together 70 years of experience and the most finely meshed international network have made Coface a reference in credit insurance, risk management and the global economy. With the ambition to become the most agile, global trade credit insurance partner in the industry, Coface’s experts work to the beat of the world economy, supporting 50,000 clients in building successful, growing and dynamic businesses. The Group’s services and solutions protect and help companies take credit decisions to improve their ability to sell on both their domestic and export markets. In 2019, Coface employed ~4,250 people and registered turnover of €1.5 billion. www.coface.com Code ISIN: FR0010667147 / Mnémonique : COFA |
DISCLAIMER - Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the
other circumstance.
Attachment
- 2020 02 25 - PR Coface
© OMX, source
