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Crédit Mutuel CIC to delist from stock market

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.