Groupama announces the sale of its stake in Cegid Group
Alongside ICMI - a holding company owned by Jean-Michel Aulas, founder and Chairman of Cegid Group ("Cegid") - Groupama announced today that it has entered into an agreement with the Silver Lake - AltaOne consortium with a view to selling its stake in Cegid for 154.5 million euros.
Groupama is an anchor investor in Cegid through its Groupama SA and Gan Vie entities. Since 2007, Groupama has built a financial and industrial partnership with Cegid which enabled them to serve a multitude of mutual clients, particularly with regard to the accounting profession and its VSE/PME clients.
The Silver Lake – AltaOne consortium proposal, which fully values the work and potential of Cegid, is a sale opportunity that Groupama has decided to take advantage of, while continuing to incorporate the industrial side of its partnership with Cegid into its strategy. In agreement with the new shareholders, Groupama would continue and develop this partnership in the years to come.
Groupama would like to thank and congratulate Jean-Michel Aulas, Patrick Bertrand and all of the employees at Cegid for the quality of their collaboration and for all that has been accomplished since 2007.