Icade 40% owner CDC keen on retaining stake – report (translated)
09 APR 2018
French state-owned financial services group Caisse des Depots et Consignations (CDC) is believed to be keen to retain Icade [EPA:ICAD], the French real estate group, in its portfolio, French daily Les Echos reported. The report cited a person in the know as saying that CDC wants to maintain its 40% stake in the business. An announcement could even be made by CDC Chief Executive Eric Lombard during the company’s annual results presentation that takes place this week, the report claimed. The report added that rumours have been doing the rounds in recent months about a potential sale of the business, either as a whole or piecemeal.
Icade existing shareholder Credit Agricole Assurances (CAA), part of French bank Credit Agricole[EPA:ACA] and owner of an 18% shareholding in Icade, confirmed it was seeking to get more seats on the board of Icade.
The original article appeared in print, page 18.