EURAZEO (EPA:RF) - EURAZEO AND FINANCIERE DE L’ELBE ENTER INTO EXCLUSIVE DISCUSSIONS WITH THE CHEVRILLON AND IDI GROUPS TO ACQUIRE ALBINGIA
Transparency directive : regulatory news
02/07/2018 08:00
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PRESS RELEASE
EURAZEO AND FINANCIERE DE L'ELBE ENTER INTO EXCLUSIVE DISCUSSIONS WITH THE
CHEVRILLON AND IDI GROUPS TO ACQUIRE ALBINGIA
Paris, July 2, 2018
Eurazeo has entered into exclusive discussions with the Chevrillon and IDI
Groups to acquire Albingia, a French insurance company, alongside Financière
de Blacailloux, controlled by Bruno Chamoin (Albingia's CEO), and the
management team represented by Financière de l'Elbe.
Founded in Germany in 1901 and established in France since 1962, Albingia is
today the only independent insurance company in the French insurance commercial
lines market. Albingia generated over EUR220 million in premiums in 2017 while
maintaining a net combined ratio below 85% and had, at the end of 2017, nearly
EUR1 billion in assets.
Operating across the whole French territory, Albingia distributes its products
exclusively via a network of longstanding partner brokers.
Albingia is among the soundest insurance companies in France, posting a
solvency ratio significantly higher than the regulatory requirements set by the
European Solvency II Directive.
Bruno Chamoin, Albingia CEO said: "I am excited to welcome Eurazeo's investment
alongside the management team. It is a key milestone in the group's
construction and will constitute a major asset for its development. Its
long-term institutional shareholders' base coupled with its financial strength
make Eurazeo the ideal partner for the future development of the Company while
strengthening its longstanding independence at the service of its partner
brokers."
Marc Frappier, Managing Partner, Head of Eurazeo Capital added: "The
acquisition of Albingia fits perfectly within our investment strategy
supporting high-quality assets carrying a strong development potential. Driven
by Bruno Chamoin and executed by the talent of its teams, unanimously
recognized by the market, the Company delivers remarkable financial
performance. The relevance of its strategy combined with the commitment of its
teams are the pillars of the ambitious project that Eurazeo is supporting."
Albingia will engage at the soonest the process to inform and consult with the
employee representative bodies of the Company. The final closing of the
operation would occur once the process with employee representative bodies is
finalized and clearance from the French Prudential Supervision and Resolution
Authority (ACPR) is obtained.
About Eurazeo
o With a diversified portfolio of approximately EUR16 billion in assets under
management, including EUR10 billion from third parties, Eurazeo is a leading
global investment company with offices in Paris and Luxembourg, New York,
Shanghai and Sao Paulo. Its purpose and mission is to identify, accelerate
and enhance the transformation potential of the companies in which it
invests. The firm covers most private equity segments through its five
investment divisions - Eurazeo Capital, Eurazeo Croissance, Eurazeo PME,
Eurazeo Patrimoine and Eurazeo Brands - and through three Idinvest business
divisions: Venture Capital, Private Debt and Dedicated Portfolio & Funds.
Its solid institutional and family shareholder base, robust financial
structure free of structural debt, and flexible investment horizon enable
Eurazeo to support its companies over the long term. As a global long-term
shareholder, the firm offers deep sector expertise, a gateway to global
markets, and a stable foothold for transformational growth to the companies
it supports.
o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 - Bloomberg: RF FP - Reuters: EURA.PA
EURAZEO CONTACTS
CAROLINE COHEN
HEAD INVESTOR RELATIONS
E-mail: ccohen@eurazeo.com
Tel: +33 (0)1 44 15 16 76
STEPHANIE MARIA-BAJARD
DIRECTOR OF COMMUNICATION
E-mail: smaria-bajard@eurazeo.com
Tel: +33 1 44 15 80 44
PRESS CONTACT
HAVAS PARIS
Daniel Saltsman
E-mail: daniel.saltsman@havas.com
Tel: +33 (0)6 33 39 94 42
For more information, please visit the Group's website: www.eurazeo.com
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