June 1, 2016 / 9:55 AM / 2 years ago

France's Caisse des Depots considers selling Sanef stake -sources

PARIS, June 1 (Reuters) - Caisse des Depots (CDC), the French state-owned bank, is considering selling all or a part of its stake in motorway operator Sanef, majority owned by Spain’s Abertis, three sources familiar with the matter told Reuters.

CDC owns 15 percent in Sanef, which includes 10 percent held by via its infrastructure fund CDC infrastructure.

“Caisse wants to exit from Sanef,” one of the sources said.

“From what we hear since the last few weeks, it would be a partial divestment,” another source said, adding that the formal process had not yet started. The source said the sale was part of portfolio reshuffle and that the proceeds could be invested elsewhere.

Abertis declined to comment. CDC was not immediately available for a comment.

Sanef, along with Eiffage and Vinci, is one of France’s motorway operators, covering 2,063 kilometers of networks, situated mostly in the north and east of France.

One of the sources said that if CDC decided to sell a part of the stake, other shareholders would consider opportunities to increase their share.

Abertis owns 52.55 percent in Sanef, other shareholders include Predica with 12.42 percent, AXA - with 9.93 percent. The Peugeot family has a holding as does CNP Assurances.

Reporting by Gilles Guillaume, Julien Ponthus and Mathieu Protard in Paris. Additional reporting by Robert Hetz in Madrid. Writing by Maya Nikolaeva. Editing by Jane Merriman

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below