Under the June 2021 settlement agreement entered into between SCOR and Covéa in the presence of the Autorité de Contrôle Prudentiel et de Résolution, Covéa granted SCOR a binding and irrevocable call option on its full stake in SCOR – representing 8.8% of the share capital1 – at a price of EUR 28 per share.
The board of directors of SCOR authorized today the partial exercise of this call option for the purchase of 9,000,000 SCOR shares held by Covéa, representing 5.01% of SCOR’s share capital1.
Once delivered by Covéa to SCOR, the shares will be sold to BNP Paribas Cardif through an over-the-counter transaction.
These transactions aim to normalise SCOR’s shareholding.
1As of 31 August 2023