Groupama claims financial strength boost with sales

A view of the Eiffel Tower in Paris France

Groupama confirmed it will first sell a 6.5% stake in Silic for a 2.7% stake in CDC owned Icade and over time transfer its full holding again in a share exchange. Currently Groupama owns 44% of Silic with a reported value of €1.22bn.

The new holding company formed will have assets of over €9bn in business parks and offices in France.

In addition both parties have agreed that CDC will simultaneously purchase €300m shares issued by Groupama's wholly-owned subsidiary GAN Eurocourtage.

The

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