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SCOR announces the acquisition of 9,000,000 of its own shares upon the partial exercise of the call option granted by Covéa in 2021, and the subsequent sale of these shares to BNP Paribas Cardif
Source: Nasdaq GlobeNewswire / 04 Oct 2023 15:58:29 America/New_York
Press Release
4 October 2023 - N° 19SCOR announces the acquisition of 9,000,000 of its own shares upon the partial exercise of the call option granted by Covéa in 2021, and the subsequent sale of these shares to BNP Paribas Cardif
Under the June 2021 settlement agreement entered into between SCOR and Covéa in the presence of the Autorité de Contrôle Prudentiel et de Résolution, Covéa granted SCOR a binding and irrevocable call option on its full stake in SCOR – representing 8.8% of the share capital1 – at a price of EUR 28 per share.
The board of directors of SCOR authorized today the partial exercise of this call option for the purchase of 9,000,000 SCOR shares held by Covéa, representing 5.01% of SCOR’s share capital1.
Once delivered by Covéa to SCOR, the shares will be sold to BNP Paribas Cardif through an over-the-counter transaction.
These transactions aim to normalise SCOR’s shareholding.
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Contact details
Media Relations
Alexandre Garcia
media@scor.comInvestor Relations
Yves Cormier
ycormier@scor.comLinkedIn: SCOR | Twitter: @SCOR_SE
SCOR, a leading global reinsurer
As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk”, SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society.
The Group generated premiums of EUR 19.7 billion in 2022 and serves clients in more than 160 countries from its 35 offices worldwide.
For more information, visit: www.scor.com
1 As of 31 August 2023
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