Crédit Mutuel Group's CIC division, the investment and corporate banking unit of the French mutual group, will be delisted from the Paris stock exchange Aug. 11, following a near-total buyout by Banque Federative du Credit Mutuel and Mutuelles Investissement.
A total of 2,294,043 CIC shares, representing 6.03% of CIC's share capital and voting rights, were tendered during the offer period, for €390 apiece. As a result, BFCM and Mutuelles Investissement will own 99.17% of CIC's capital.
A mandatory squeeze-out of remaining shares will follow.
Mutuelles Investissement's share capital is owned by Banque Fédérative du Crédit Mutuel and Assurances du Credit Mutuel Vie SA.