The Caisse des dépôts et consignations (CDC) has notified the AMF that it indirectly crossed below the 5% threshold of Coface's capital and voting rights on June 8, following the return of Coface shares held as collateral by CNP Assurances.
The public financial institution specified that it holds, through CNP Assurances and CDC Croissance, 6,649,968 Coface shares representing an equal number of voting rights, or 4.43% of the capital and voting rights of the credit insurance company.
Coface SA is one of the world's leaders in credit insurance. The group provides solutions to companies designed to protect them against the risk of financial default by their debtors, as part of the management of their accounts receivable, on both their domestic and export markets. Net sales break down by activity as follows:
- credit insurance and related services (81.1%);
- surety insurance (9.9%);
- credit management services (5.1%);
- factoring services (3.9%).
Net sales are distributed geographically as follows: Western Europe (20.6%), Mediterranean and Africa (30%), Northern Europe (19.8%), Central Europe (9.1%), North America (9.1%), Asia/Pacific (7%), and Latin America (4.4%).
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