Caisse d'Epargne / Meilleurtaux.com

Caisse Nationale des Caisses d'Epargne (CNCE), the listed French bank, announced the acquisition of a 50.14% stake in French Internet and e-commerce company Meilleurtaux.

The company will acquire 50.14% of the shares via the Oterom Holding vehicle at a price of EUR 14 per share. The vendors are Ventech, Galileo Partners and Edmond de Rothschild Investment Partners. Christophe Cremer, founder and head of Meilleurtaux is also selling part of its share. He will also transfer a 7% stake in Meilleurtaux to Oterom in exchange of a 14% stake in the vehicle.

Once the acquisition is completed, French insurers Macif and Maif will acquire a 17% stake each in the Oterom Holding, and 5% for Nexity. CNCE will retain a 47% stake in the vehicle, which will hold about 57% of Meilleurtaux. CNCE said that it also plans to launch a public offer for the remainder of the shares at a price of EUR 14 per share.

(c) Mergermarket