Credit Agricole SA opts out of Eurazeo lockdown

Credit Agricole SA has ended its pact with other shareholders of Eurazeo, Societe Civile Haussmann Percier (SCHP) and affiliates. The turn of the New Year signalled the end of the shareholders' lockdown agreement in listed private equity firm Eurazeo.

Credit Agricole is the second-largest shareholder with 16% of the capital and 22.3% of the vote behind Michel David-Weill, Michel David-Weill 2001 Trust, 'la succession de Madame Eliane David-Weill' and both the Fondation Atmer and the Fondation Bellema, collectively known as Societe Civile Haussmann Percier (SCHP). These groups retain 23.44% of the capital and 32.69% of the votes.

A new three-year deal immediately took effect, but Credit Agricole SA agreed to opt out in order to retain a degree of flexibility.

The move means that Eurazeo's capital is no longer locked down. The new agreement solidifies the commitment to the retention of the stakes by SCHP and affiliates until 2010, yet anticipates potential exits by non-SCHP investors.

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