Swiss Life/Rentenanstalt welcomes and supports the take-over bid submitted by HSBC Holdings plc for Crédit Commercial de France (CCF). Both CCF’s Management and Board of Directors univocally recommend that the bid be approved. Swiss Life/Rentenanstalt judges the bid to be an interesting and advantageous prospect for all stakeholders. The company plans to exchange its holding in CCF into shares of HSBC Holdings plc.
Swiss Life/Rentenanstalt will retain its majority holding, which it acquired in 1999, in CCF’s subsidiaries ERISA, and looks forward to continuing collaboration with CCF, with which it has been extremely successful in the bancassurance sector for over ten years.