exclusivity agreement for the sale of FLOA

BNP Paribas, Casino Group and Crédit Mutuel Alliance Fédérale
sign an exclusivity agreement for the sale of FLOA to BNP Paribas by the Casino group and Crédit Mutuel Alliance Fédérale,
and to set up a strategic partnership between BNP Paribas and the Casino Group

Paris, July 27, 2021

BNP Paribas, the Casino Group and Crédit Mutuel Alliance Fédérale have signed an exclusivity agreement providing for:

  • the acquisition by BNP Paribas of all the outstanding shares of FLOA, one of the French leaders in innovative payments and a subsidiary of Casino and Crédit Mutuel Alliance Fédérale (via Banque Fédérative du Crédit Mutuel – BFCM), for an amount total of 258 million euros1, for a capital of 184 million euros at the end of 2020;
  • a long-term strategic and commercial partnership between BNP Paribas and the Casino group.

In a rapidly growing e-commerce market, linked to changes in consumption habits and customer expectations in terms of payment methods, the proposed transaction will allow FLOA to start a new development cycle, in capitalizing on BNP Paribas’ expertise and businesses, in particular with a view to European deployment.

The sale price of the acquisition of all the outstanding shares of FLOA, for a capital of 184 million euros at the end of 2020, amounts to 258 million euros.

The proceeds will be divided equally between the Casino group and the Banque Fédérative du Crédit Mutuel, representing 129 million euros for each company.

BNP Paribas will also become the exclusive supplier and distributor of consumer credit solutions including split payment solutions for Casino Group customers through a commercial partnership to be set up with the Casino Supermarkets, Géant and Cdiscount brands. . Cdiscount will continue to operate its bank card payment business with the support of FLOA.

The project will also lead to a collaboration between the Casino Group and BNP Paribas to develop the FLOA PAY split payment solution. As part of this partnership, the Casino group will participate in the success of the high-potential payment activity.2.

The planned transaction is subject to consultation with the relevant employee representative bodies. It should be completed in the coming quarters subject to the necessary approvals, in particular from the French Competition Authority and the European Central Bank (ECB).

Thierry Laborde, Deputy CEO of the BNP Paribas Group, declared:

The adoption of digital payment solutions is massive and accelerating with the strong growth of e-commerce. In this environment, with the support of Casino and the Crédit Mutuel Alliance Fédérale, FLOA has become the French leader in innovative payment solutions, offering particularly innovative solutions and customer experiences that are market leaders. With BNP Paribas, FLOA will launch a second phase of its development in France and Europe, in particular with publishers and e-merchants. The proposed transaction fits perfectly into our strategy for the development of payments in Europe. At the same time, the partnership with Casino will enrich the range of payment solutions available to customers and strengthen our position as leader in consumer credit in France and in Europe.

Jean-Charles Naouri, Chairman and CEO of the Casino group said:

“FLOA is a joint success for the Casino group and Crédit Mutuel Alliance Fédérale. Banking innovations, in particular split payment solutions, have become fundamental characteristics of the French banking sector.

It is therefore natural that the Casino group is now considering this strategic partnership with BNP Paribas, which will allow Casino Supermarkets, Géant and Cdiscount customers to continue to benefit from innovative financing and payment solutions for their purchases, thanks to the strength of BNP Paribas.

About FLOA

French leader in web and mobile payment solutions, FLOA makes life easier for consumers thanks to payment facilities, instant loans and bank cards. FLOA is also a partner of major e-merchants (Cdiscount, Oscaro, SFR, Vide dressing, etc.), key players in tourism (Selectour, Misterfly, Cdiscount Voyages, Pierre et Vacances, etc.) and fintechs (Lydia, Bankin ‘), for which she creates tailor-made services. Its two retail banking brands are FLOA Bank for its B2C clients and FLOA Pay for its B2B partners. FLOA’s products and services are distinguished by their ease of use for customers and rapid integration for partners. FLOA has more than 3 million customers and annually grants more than 2 billion euros in loans for goods and services. In France, FLOA was named Best Customer Service Company 2021 (Customer Service of the Year 2021). Present in France, Spain and Belgium, FLOA aims to become one of the main European providers of payment solutions.

For more information visit: www.floa.fr

About BNP Paribas

BNP Paribas is the leading bank in the European Union and a key player in international banking. It is present in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group occupies key positions in its three main areas of activity: Retail banking for the Group’s retail banking networks and several specialized businesses, including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. The Group helps all of its clients (individuals, associations, entrepreneurs, SMEs, companies and institutions) to realize their projects through financing, investment, savings and provident solutions. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is also deploying its integrated retail banking model in several Mediterranean countries, Turkey, Eastern Europe and the Western United States. A key player in international banking, the Group has leading platforms and businesses in Europe, a strong presence in the Americas, as well as a solid and growing business in Asia-Pacific.

BNP Paribas has implemented a Corporate Social Responsibility (CSR) approach in all of its activities, enabling it to contribute to building a sustainable future, while ensuring the performance and stability of the Group.

For more information visit www.groupe.bnpparibas.com

About the Casino group

The Casino group is a key player in French distribution and an international leader in food distribution, with nearly 11,000 stores around the world (in France and Latin America). The Group has developed a portfolio of strong, dynamic and complementary brands, thanks to more than 200,000 employees driven by their passion for commerce and customer service, and achieved a turnover of 31.9 billion euros in 2020. In all of its host countries, the Casino Group is focusing its development on formats with the highest potential and its ability to adapt to meet the needs of its customers, today and tomorrow.

For more information visit www.groupe-casino.fr/fr

About Crédit Mutuel Alliance Fédérale

One of the leading banks and insurance companies in France and in Europe, present through nearly 4,300 branches serving 26.7 million customers, Crédit Mutuel Alliance Fédérale offers a diversified range of services to individuals, local professionals and businesses of all sizes.

One of the strongest European banking groups, its shareholders’ equity stood at 49.6 billion and its CET1 ratio at 17.8% as of December 31, 2020.

Crédit Mutuel Alliance Fédérale is made up of the following federations: Center Est Europe (Strasbourg), Sud-Est (Lyon), Île-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire -Atlantic and Center-West (Nantes), Center (Orléans), Normandy (Caen), Dauphiné-Vivarais (Valence), Mediterranean (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand) and Antilles-Guyane (Fort -of France).

Crédit Mutuel Alliance Fédérale also brings together the Caisse Fédérale de Crédit Mutuel, the Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries, in particular CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), Targobank, Groupe Cofidis, Banque Européenne du Crédit Mutuel (BECM), Banque de Luxembourg, Banque Transatlantique and Homiris.

For more information visit creditmutuelalliancefederale.fr

THE ANALYST AND THE INVESTOR CONTACT THE CASINO GROUP
Lionel benchimol – +33 (0) 1 53 65 64 17
lbenchimol@groupe-casino.fr

or

+33 (0) 1 53 65 24 17
IR_Casino@groupe-casino.fr

PRESS CONTACTS

Casino Group – Communication Department
Stéphanie Abadie – sabadie@groupe-casino.fr – +33 (0) 6 26 27 37 05
or
+33 (0) 1 53 65 24 78 – directiondelacommunication@groupe-casino.fr
IMAGE 7 agency
Karine Allouis – +33 (0) 1 53 70 74 84 – kallouis@image7.fr
Franck Pasquier – +33 (0) 6 73 62 57 99 – fpasquier@image7.fr

BNP Paribas

Servane Costrel de Corainville

servane.costreldecorainville@bnpparibas.com – Phone: +33 (0) 6 74 81 98 27

Crédit Mutuel Alliance Fédérale

Paul Gibert – paul.gibert@creditmutuel.fr – Tel: +33 (0) 3 88 11 24 64

Warning

This press release has been prepared for informational purposes only and should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Likewise, it does not provide and should not be taken as investment advice. It has no relation to the specific investment objectives, the financial situation or the needs of any receiver. No representations or warranties, express or implied, are made with respect to the accuracy, completeness or reliability of the information contained in this document. It should not be viewed by recipients as a substitute for exercising their own judgment. All opinions expressed here are subject to change without notice.


1Based on shareholders’ equity at December 31, 2020

2Casino Group will remain invested in the successful development of the FLOA payment business through a 30% stake in future value created


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