French bank Natixis to sell 29.5% stake in Coface to Arch Capital [Reuters (UK)]
Arch Capital Group Ltd. (ACGL)
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Source: Reuters
French bank Natixis to sell 29.5% stake in Coface to Arch Capital - Reuters 1 Min Read PARIS, Feb 25 (Reuters) - French bank Natixis said on Tuesday that it had agreed to sell a 29.5% stake in credit insurance company Coface to U.S. company Arch Capital Group. Natixis said it was selling the Coface stake at a price of 10.70 euros per share, marking a discount of around 6% to Coface’s closing price of 11.38 euros on Feb. 24. Natixis will hold 12.2% of Coface following the sale, which would free up 35 basis points for Natixis’ core equity tier one capital ratio but generate a one-off goodwill impairment charge of around 100 million euros ($108.4 million) in the first quarter of 2020. $1 = 0.9223 eurosReporting by Sudip Kar-Gupta; editing by Jason Neely All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2020 Reuters. All Rights Reserved.
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ACGL
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- 2/14/24 - Beat
ACGL
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- 3/28/24 - Form ARS
- 3/28/24 - Form DEFA14A
- ACGL's page on the SEC website