Trading in the shares of French factoring services specialist Factorem SA and the French insurer Assurances Banques Populaires SA will resume in Paris on 3 August. A squeeze-out operation for these companies by French bank Natexis will run from that date until 7 September.
Natexis, which recently merged with both companies' parent company Caisse Centrale des Banques Populaires to form Natexis Banques Populaires, will offer 190 euros per Factorem share for the 4.4 per cent of its capital and voting rights which it does not own. At the same time, Natexis is offering a unit price of 138 euros for the remaining 3.26 per cent of capital and voting rights of Assurances Banques Populaires.
Source: Les Echos, France 1 August 2000
