APRIL: Purchase agreement regarding the transfer of legal protection and services signed
Following the entry into exclusive negotiations announced on
18 September 2019, the APRIL group announced today the conclusion of an agreement to sell its legal protection and services activities in France, carried out by its subsidiaries Solucia PJ and Judicial.
This agreement was reached following, in particular, the completion of the applicable employee information and consultation procedures by Solucia PJ and Judicial, as well as the end of negotiations between APRIL and a consortium led by the mutual insurance company Tutélaire and the management of Solucia. As a result, the parties signed today an agreement to transfer APRIL's stake, representing 100% of the capital of Solucia PJ and Judicial.
As a reminder, this decision is in line with the refocusing and development strategy initiated by the group around brokerage activities in five key markets (individual health and personal protection, professionals and VSEs, loan insurance, international health and property and casualty niches), as announced on 18 March 2019.
Final agreement remains subject to the prior approval of the ACPR for the sale of Solucia. Sale of the companies is expected to take place in the first quarter of 2020.
Analysts and investors
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This release contains forward-looking statements that are based on assessments or assumptions that were reasonable at the date of the release, and which may change or be altered due, in particular, to random events or uncertainties and risks relating to the economic, financial, regulatory and competitive environment, the risks set out in the 2018 Registration Document, and any risks that are unknown or non-material to date that may subsequently occur. The Company undertakes to publish or disclose any adjustments or updates to this information as part of the periodic and permanent information obligation to which all listed companies are subject.
About the APRIL Group
Founded in 1988, APRIL is an international insurance services group operating in 28 countries, whose primary goal is to offer its clients a simpler and more accessible insurance experience. Its 3,900 staff members design, distribute and manage specialised insurance solutions (Health & Personal Protection, Property & Casualty, Mobility and Legal Protection) and assistance services for its partners and customers, including private individuals, professionals and businesses. Listed on Euronext Paris (Compartment B), the group posted sales of €997.2m in 2018.