Societe Generale announces its intention to increase its holding in the share capital of Boursorama

Societe Generale and Caixa Group, as of today holders of 56% and 21% of the share capital of Boursorama respectively, have strengthened their cooperation and formalized their common strategic vision of online banking in France and in Europe through the signature on March, 17th 2014 of a concerting shareholders agreement with respect to Boursorama.

Following the signature of this new shareholders agreement, Societe Generale will file today with the French Financial markets authority (“AMF”) a simplified takeover offer targeting the shares of Boursorama neither owned by Societe Generale nor Caixa Group, at an Offer price of 12 euros per share (the « Offer »).

The strengthening of Societe Generale in the capital of Boursorama, the leading online bank in France, is part of the Group's strategy to pursue its development in this market.

In accordance with the French stock market regulation, the Board of Directors of Boursorama will appoint an independent expert, who will prepare a report on the financial terms of the Offer proposed by Societe Generale. The conclusions of the independent expert’s report, which will be included in the information note in response, will be presented in the form of a fairness opinion.

The indicative timetable of the Offer will be subject to review by the AMF and published at the date of filing of the draft information note prepared by Societe Generale.

The Offer, which is expected to open during the month of May 2014, will be followed by a squeeze out procedure (retrait obligatoire), should minority shareholders, excluding Caixa Group, hold less than 5% of Boursorama’s share capital and voting rights following the tender offer.