Predica, a subsidiary of Crédit Agricole Assurances, has sold 300,000 Altarea shares (ISIN: FR0000033219) by way of an accelerated bookbuild private placement for institutional investors (the "Offering") at a price of €175 per share.
Morgan Stanley is acting as Sole Bookrunner.
Predica has granted the Sole Bookrunner an over-allotment option of up to 45,000 shares, which may be exercised on or before 3 February 2017.
Upon completion of the Offering, Predica will hold between 23.7% and 24.0% of Altarea's share capital, depending on the full or partial exercise of the over-allotment option.
Predica has agreed to a 90-day lock-up for its remaining shares in Altarea, subject to certain customary exceptions and waiver by Morgan Stanley.
About the Crédit Agricole Assurances Group Crédit Agricole Assurances, Europe's leading bank insurer, holds all of Crédit Agricole's insurance entities. The group offers a range of products and services for savings, retirement, health, death & disability and property insurance. They are distributed via Crédit Agricole group banks in France and in 10 other countries worldwide, by wealth management advisers and insurance agents. Crédit Agricole Assurances companies meet the needs of individuals, professionals, farmers and businesses. Crédit Agricole Assurances has 4,000 employees. Its sales at the end of 2015 amounted to €30.4 billion (IFRS).
Press contact: Françoise Bololanik + 33 (0)1 57 72 46 83 / 06 25 13 73 98 service.presse@ca-assurances.fr
Disclaimer
The distribution of this press release and the offer and sale of the shares referred to herein (the "Securities") may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Securities were not and are not being offered to the public in any jurisdiction and may not be offered to the public in any jurisdiction in circumstances which would require the preparation or registration of any prospectus or offering document relating to the Securities in such jurisdiction. This press release is not an offer of securities for sale in any jurisdiction, including the United States of America, Canada, Australia or Japan. No action has been taken to permit a public offering of the Securities or possession or distribution of this press release in any jurisdiction where action for that purpose is required. Neither this press release nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or purchase whatsoever in any jurisdiction and shall not constitute or form part of an offer to sell or the solicitation of an offer to buy any securities in the United States of America or in any other jurisdiction. The information contained in this announcement is for background purposes only and does not purport to be full or complete and no reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.
The Securities have not been and will not be offered or sold, directly or indirectly, to the public in France. The Securities will be offered or sold in France only to (x) persons providing investment services relating to portfolio management for the account of third parties (personnes fournissant le service d'investissement de gestion de portefeuille pour compte de tiers), and/or (y) qualified investors (investisseurs qualifiés) acting for their own account, with the meanings ascribed to them in, and in accordance with, Articles L. 411-1, L. 411-2 and D. 411-1 of the French Code monétaire et financier and applicable regulations thereunder.
With respect to member states of the European Economic Area ("EEA") which have implemented the Prospectus Directive (each, a "Relevant Member State"), no action has been undertaken or will be undertaken to make an offer to the public of the Securities requiring a publication of a prospectus in any Member State. As a result, the Securities may only be offered in Member States: a) to "qualified investors" within the meaning of the Prospectus Directive ("Qualified Investors") or b) in circumstances falling within Article 3(2) of the Prospectus Directive. and provided that no such offer of Securities referred to in (a) to (b) above shall require Prédica SA or Morgan Stanley & Co. International plc to publish a prospectus pursuant to Article 3 of the Prospectus Directive, or supplement a prospectus pursuant to Article 16 of the Prospectus Directive. For these purposes, as defined in the Prospectus Directive, (i) the expression an "offer to the public of the Securities" in a relevant Member State, which has implemented the Prospectus Directive (as defined below), means any communication in any form and by any means of sufficient information on the terms of the offer of the Securities to be offered, so as to enable an investor to decide, as the case may be, to purchase or subscribe the Securities, as the same may be varied in that Member State, (ii) the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto), and includes any relevant implementing measure in the Relevant Member State.
The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration under, or pursuant to an available exemption from the Securities Act. The securities have not been and will not be registered under the Securities Act and no public offering of the securities will be made in the United States.
This document does not constitute a public offering of securities in the United Kingdom. In the United Kingdom, this document is directed only at persons who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Financial Promotion Order"), (ii) "high net worth entities", "unincorporated associations" and other persons to whom it may otherwise be lawfully communicated under Article 49(2)(a) to (d) of the Financial Promotion Order and (iii) to other persons to whom this document may be lawfully communicated.
This press release is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or investments in any jurisdiction where such offer or solicitation would be unlawful. No action has been taken that would permit an offering of the securities or possession or distribution of this press release in any jurisdiction where action for that purpose is required. Persons into whose possession this press release comes are required to inform themselves about and to observe any such restrictions.
Morgan Stanley & Co. International plc, acting as a stabilisation manager (or any institution acting on its behalf) (the "Stabilisation Manager"), may, during a period from 20 January 2017 up to and including 3 February 2017, at its option and in a manner consistent with applicable laws and regulations and, in particular, EU Regulation No. 596/2014 of 16 April 2014 on market abuse, effect transactions with a view to maintaining the market price of Altaréa SA's shares and effect over-allotments and purchase shares of Altaréa SA to cover these over-allotments. However, there is no assurance that the Stabilisation Manager will effect any stabilisation activities and if begun, such stabilisation activities may be ended at any time. Any stabilisation activities may affect the price of Altaréa's shares and could result in a market price for the shares higher than that which might otherwise prevail.
This press release may not be published, forwarded or distributed in the United States, Canada, Australia or Japan.
Morgan Stanley is acting as Sole Bookrunner.
Predica has granted the Sole Bookrunner an over-allotment option of up to 45,000 shares, which may be exercised on or before 3 February 2017.
Upon completion of the Offering, Predica will hold between 23.7% and 24.0% of Altarea's share capital, depending on the full or partial exercise of the over-allotment option.
Predica has agreed to a 90-day lock-up for its remaining shares in Altarea, subject to certain customary exceptions and waiver by Morgan Stanley.
About the Crédit Agricole Assurances Group Crédit Agricole Assurances, Europe's leading bank insurer, holds all of Crédit Agricole's insurance entities. The group offers a range of products and services for savings, retirement, health, death & disability and property insurance. They are distributed via Crédit Agricole group banks in France and in 10 other countries worldwide, by wealth management advisers and insurance agents. Crédit Agricole Assurances companies meet the needs of individuals, professionals, farmers and businesses. Crédit Agricole Assurances has 4,000 employees. Its sales at the end of 2015 amounted to €30.4 billion (IFRS).
Press contact: Françoise Bololanik + 33 (0)1 57 72 46 83 / 06 25 13 73 98 service.presse@ca-assurances.fr
Disclaimer
The distribution of this press release and the offer and sale of the shares referred to herein (the "Securities") may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Securities were not and are not being offered to the public in any jurisdiction and may not be offered to the public in any jurisdiction in circumstances which would require the preparation or registration of any prospectus or offering document relating to the Securities in such jurisdiction. This press release is not an offer of securities for sale in any jurisdiction, including the United States of America, Canada, Australia or Japan. No action has been taken to permit a public offering of the Securities or possession or distribution of this press release in any jurisdiction where action for that purpose is required. Neither this press release nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or purchase whatsoever in any jurisdiction and shall not constitute or form part of an offer to sell or the solicitation of an offer to buy any securities in the United States of America or in any other jurisdiction. The information contained in this announcement is for background purposes only and does not purport to be full or complete and no reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.
The Securities have not been and will not be offered or sold, directly or indirectly, to the public in France. The Securities will be offered or sold in France only to (x) persons providing investment services relating to portfolio management for the account of third parties (personnes fournissant le service d'investissement de gestion de portefeuille pour compte de tiers), and/or (y) qualified investors (investisseurs qualifiés) acting for their own account, with the meanings ascribed to them in, and in accordance with, Articles L. 411-1, L. 411-2 and D. 411-1 of the French Code monétaire et financier and applicable regulations thereunder.
With respect to member states of the European Economic Area ("EEA") which have implemented the Prospectus Directive (each, a "Relevant Member State"), no action has been undertaken or will be undertaken to make an offer to the public of the Securities requiring a publication of a prospectus in any Member State. As a result, the Securities may only be offered in Member States: a) to "qualified investors" within the meaning of the Prospectus Directive ("Qualified Investors") or b) in circumstances falling within Article 3(2) of the Prospectus Directive. and provided that no such offer of Securities referred to in (a) to (b) above shall require Prédica SA or Morgan Stanley & Co. International plc to publish a prospectus pursuant to Article 3 of the Prospectus Directive, or supplement a prospectus pursuant to Article 16 of the Prospectus Directive. For these purposes, as defined in the Prospectus Directive, (i) the expression an "offer to the public of the Securities" in a relevant Member State, which has implemented the Prospectus Directive (as defined below), means any communication in any form and by any means of sufficient information on the terms of the offer of the Securities to be offered, so as to enable an investor to decide, as the case may be, to purchase or subscribe the Securities, as the same may be varied in that Member State, (ii) the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto), and includes any relevant implementing measure in the Relevant Member State.
The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration under, or pursuant to an available exemption from the Securities Act. The securities have not been and will not be registered under the Securities Act and no public offering of the securities will be made in the United States.
This document does not constitute a public offering of securities in the United Kingdom. In the United Kingdom, this document is directed only at persons who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Financial Promotion Order"), (ii) "high net worth entities", "unincorporated associations" and other persons to whom it may otherwise be lawfully communicated under Article 49(2)(a) to (d) of the Financial Promotion Order and (iii) to other persons to whom this document may be lawfully communicated.
This press release is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or investments in any jurisdiction where such offer or solicitation would be unlawful. No action has been taken that would permit an offering of the securities or possession or distribution of this press release in any jurisdiction where action for that purpose is required. Persons into whose possession this press release comes are required to inform themselves about and to observe any such restrictions.
Morgan Stanley & Co. International plc, acting as a stabilisation manager (or any institution acting on its behalf) (the "Stabilisation Manager"), may, during a period from 20 January 2017 up to and including 3 February 2017, at its option and in a manner consistent with applicable laws and regulations and, in particular, EU Regulation No. 596/2014 of 16 April 2014 on market abuse, effect transactions with a view to maintaining the market price of Altaréa SA's shares and effect over-allotments and purchase shares of Altaréa SA to cover these over-allotments. However, there is no assurance that the Stabilisation Manager will effect any stabilisation activities and if begun, such stabilisation activities may be ended at any time. Any stabilisation activities may affect the price of Altaréa's shares and could result in a market price for the shares higher than that which might otherwise prevail.
This press release may not be published, forwarded or distributed in the United States, Canada, Australia or Japan.
Predica announces the successful sale of 300,000 Altarea shares
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Crédit Agricole Assurances via Globenewswire
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Crédit Agricole Assurances via Globenewswire
