Bermuda-based Arch Capital Group has acquired a 29.5 percent stake in trade credit insurer Coface from French corporate investment banking firm Natixis, having received all necessary approvals following satisfaction of antitrust and regulatory conditions.
Arch and Natixis entered into a share purchase agreement in February 2020.
Under the agreement, Arch Financial Holdings Europe IV, an affiliate of Arch Capital Group, has purchased 29.5 percent in France-based Coface’s share capital at a price of €9.95 per share.
Natixis is no longer represented at Coface’s board of directors with Arch assuming four of Natixis’ seats.
Natixis will hold its remaining 12.7 percent stake in Coface as a financial participation.
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