Latest news with #BPCE
Reuters
26-05-2025
- Business
- Reuters
Intesa CEO rules out any deal taking national savings out of Italian hands
MILAN, May 26 (Reuters) - Intesa Sanpaolo's CEO on Monday ruled out taking part in any deal that would take the management of national savings out of Italian hands, saying he recognised some financial sector mergers and acquisitions had national security concerns. Intesa has kept out of the M&A wave sweeping Italian banking, but bankers have been expecting it to make a move to preserve its market leadership since CEO Carlo Messina was handed a new three-year term in April. Messina said on Monday his bank could consider specific asset management or private banking deals, but added that Intesa was well aware of being an element of national security for Italy with the 1.4 trillion euros ($1.6 trillion) in customer financial assets it manages. "I would never do it as an Italian, but I'm not so naive as to think that Intesa could just decide to take those savings elsewhere. That it would be free to do that," Messina told the annual meeting of the Italian FABI banking union. Referring to special powers Rome has to vet banking deals on grounds of national security, he said 'golden power' rules "are part of the new world we live in". Italy's biggest insurer Generali ( opens new tab has sparked alarm in Rome by announcing a deal with French banking group BPCE to merge their respective asset management businesses, Generali Investments Holding and Natixis Investment Managers. The deal has met opposition from leading Generali shareholders and has been criticised by the government. Generali has indicated it could drop it, opens new tab if it cannot dispel Rome's concerns. On Monday, Messina said deals were unfolding in a way that was not in line with markets' best practice standards and was "not elegant, drawing unwanted attention to Italy". Messina also warned that retail investors could lose money by investing in banks and insurers whose share prices have been inflated by M&A premiums. "I don't hear anyone mentioning it. I'd worry about this were I in charge of protecting retail savings," he said. ($1 = 0.8789 euros)
Yahoo
14-05-2025
- Business
- Yahoo
Vitura: Activity at end-March 2025
Rental income of €10.9 million Signature of a lease with BPCE for 15,500 sq.m at Rives de Bercy Portfolio occupancy rate up 9 percentage points to 78% Unaudited figures. PARIS, May 14, 2025--(BUSINESS WIRE)--Regulatory News: Vitura (Paris:VTR): Signature of a major new lease at Rives de Bercy The remarkably successful repositioning of Rives de Bercy has very rapidly attracted two prestigious tenants. Following on from the arrival of Air Liquide in 2024, a new lease was signed with BPCE Group for 15,500 sq.m in March 2025, representing 50% of the property's surface area. This transaction – the largest recorded in Greater Paris in the first quarter of 2025 – demonstrates the relevance of our asset strategy and the ability of our assets to meet the large and medium‑sized property needs of international groups. Key figures This major new lease has increased Rives de Bercy's occupancy rate to 71% and extended the average remaining lease term across the portfolio to six years. The overall occupancy rate of the Group's properties was up 9 percentage points to 78% at March 31, 2025, compared with 69% at end-2024. Vitura's IFRS rental income was €10.9 million for the three months ended March 31, 2025, stable compared with the same period in 2024. The Universal Registration Document comprising the 2024 annual financial report was filed with the French financial markets authority (Autorité des marchés financiers – AMF) on April 30, 2025 and is available on Vitura's website. Investor Calendar - June 25, 2025: Shareholders' Meeting - July 30, 2025: First-half 2025 results About Vitura Created in 2006, Vitura is a listed real estate company ("SIIC") that invests in prime office properties in Paris and Greater Paris. The total value of the portfolio was estimated at €877 million at December 31, 2024 (excluding transfer duties). Thanks to its strong commitment to sustainable development, the Company's leadership position is recognized by ESG rating agencies. Vitura ranks second among France's listed office property companies in the 2024 GRESB ranking, and has been ranked world number 1 four times. It has also received two Gold Awards from the European Public Real Estate Association (EPRA) for the quality and transparency of its financial and non-financial reporting. Vitura is ISO 14001-certified. Vitura is a REIT listed on Euronext Paris since 2006, in compartment B (ISIN: FR0010309096). Visit our website to find out more: Find us on: LinkedIn | X View source version on Contacts For more information: Investor relationsCharlotte de Larocheinfo@ \ +33 1 42 25 76 38 Media relationsAliénor \ +33 6 64 32 81 75 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
20-04-2025
- Business
- Bloomberg
Caltagirone Concerned About Generali-Natixis Investment JV: Sole
Italian construction magnate Francesco Gaetano Caltagirone expressed concern about a proposed link-up between Assicurazioni Generali SpA and BPCE 's asset management units. The partnership offers few economic advantages and would effectively 'dismantle' Generali, Caltagirone said in an interview with Il Sole 24 Ore published on Sunday.
Reuters
01-04-2025
- Business
- Reuters
Italy insurance watchdog needs more details of Generali-Natixis deal, sources say
ROME, April 1 (Reuters) - Italy's insurance regulator IVASS needs more details about internal control and governance systems as it reviews domestic leader Generali's proposed asset management tie-up with French bank BPCE, two sources close to the matter told Reuters. Generali ( opens new tab, Europe's fourth-largest insurer, signed a non-binding accord with BPCE in January to combine their respective Generali Investments Holding (GIH) and Natixis Investment Managers units. The tie-up would be Europe's largest fund manager by revenue and the second-biggest by assets under management. Fragmentation is blamed for holding back Europe's fund industry, where players mostly lack global scale and are less competitive than U.S. rivals. However, the deal has drawn criticism from some in Italy where the conservative government is keen to retain savings in domestic hands to help it with the task of refinancing one of the world's largest debt piles. The government, which must approve the deal, has sought guarantees that Generali will remain in full control of allocating savings collected in Italy. Insurance supervisor IVASS, meanwhile, needs more time to complete its review, said the sources, who asked not to be named due to the sensitivity of the matter. They said the request for more clarity also includes details of the new entity's portfolio remuneration system. IVASS and Generali both declined to comment. Adding further uncertainty to the deal's chances of being finalised, Generali CEO Philippe Donnet, who has championed it, is running for reappointment this month amid a shareholder clash. The final decision on the deal will be taken by the new Generali board, which shareholders will select on April 24. Three slates of candidates for the board have been filed, increasing the risk the vote produces a fractured board. Under legislation designed to protect assets deemed of strategic national importance, Italy can set conditions for such deals. Generali's second- and third-largest shareholders, respectively the investment vehicle of late Ray-Ban billionaire Leonardo Del Vecchio and real estate magnate Francesco Gaetano Caltagirone have been critical of the transaction. Donnet has said the government review will provide an opportunity to dispel any concerns over the deal. Generali and BPCE have said each will retain decision-making power over how their respective assets are allocated, while pooling management in a joint venture of which the units they are combining would each own 50%. To further reassure Rome, Generali has said the structure of the deal separates asset ownership from asset management. And Donnet said last month Generali could buy more Italian debt. Under pressure to step up Generali's dealmaking, Donnet has expanded the insurer's asset management operations, first by buying Conning Holdings, a U.S. asset manager specialising in insurers, then turning to BPCE, which had been looking for a partner for Natixis.
Yahoo
27-02-2025
- Business
- Yahoo
Worldline slumps after revenue miss, new CEO to give update in April
By Gianluca Lo Nostro, Alessandro Parodi and Florence Loeve PARIS/GDANSK (Reuters) - Shares in Worldline fell 15% after the French digital payments company reported on Wednesday yearly revenues slightly below analysts' estimates and said its newly appointed CEO would issue a more detailed outlook later in the year. Pierre-Antoine Vacheron was named CEO, effective March 1, late Tuesday, replacing Gilles Grapinet, who left at the end of a disappointing year marked by multiple profit warnings. Worldline's shares are trading near record lows after hitting all-time highs during the pandemic, as consumers increasingly resumed making physical payments rather than relying on digital transactions. At 0856 GMT the shares were down 15% at 6.3 euros ($6.61). While annual results were disappointing, the choice of an external CEO was positive, J.P. Morgan said. Vacheron, previously head of Natixis Payments, a unit of French bank BPCE, will present his strategic plan in the autumn, the company said. "2024 was a year of transformation and refocusing. In 2025, we're getting ready to bounce back," Worldline's CFO Gregory Lambertie told journalists in a post-earnings call. Worldline expects 2025 revenue growth in line with last year and will give an update along with its first-quarter results on April 23. "We see these targets as conservative, which should give significant leeway for the new CEO for further restructuring", Stifel analysts said in a note. Annual revenue edged up 0.5% to 4.63 billion euros ($4.87 billion) last year, missing the 4.64 billion euros analysts on average had expected in a company compiled poll. Worldline had cut its growth forecast to around 1% in September. SECTOR STRUGGLES The Paris-based fintech is one of Europe's biggest payments service providers but has underperformed Dutch rival Adyen which has a bigger global footprint and partnerships with e-commerce giants that have driven its growth. As the sector struggles with low valuations more companies are teaming up to drive growth. Worldline will soon launch a payments venture with Credit Agricole. French lender BNP Paribas will team up with BPCE to create a similar payment processor called Estreem, aiming for card payments leadership in France. "We do not expect material impact of that venture on our business", Lambertie said in a call with analyst. ($1 = 0.9528 euros)
