PARIS, March 14 (Reuters) - French insurer Groupama has told state bank Caisse des Depots (CDC) that it plans to sell its Gan Eurocourtage brokerage arm, CDC said on Wednesday.
CDC made the comments in a statement announcing that it had bought, as planned, 300 million euros in preference shares issued by Gan Eurocourtage.
Sources close to the sales talks said last week that up to five bidders, including trade rivals and a consortium of private equity firms, were eyeing Groupama’s Gan Eurocourtage.
Groupama has been under pressure from French financial regulator ACP to improve its solvency ratios. (Reporting by Dominique Vidalon)