The Fonds Stratégique de Participation (FSP), a mutual fund created by four major French insurance companies – BNP Paribas Cardif, CNP Assurances, Crédit Agricole Assurances through its subsidiary Predica and Sogécap (Groupe Société Générale) – in order to support long-term investments in listed companies, has announced that it now owns 6% of Arkema's share capital.
Arkema considers this acquisition of a stake in its share capital as a positive sign showing the confidence of the FSP in the long-term strategy implemented by the Group and in its management.
With a prospect of maintaining a long-term investment of at least 6% of Arkema's share capital, the FSP has shared with Arkema's Board of Directors its intent to seek the appointment of a representative at the Board of Directors.
The Board of Directors will consider favorably the demand for the appointment of an independent representative that the FSP will sent. Upon approval of the proposed representative, the Board of Directors should submit the proposed resolution to Arkema's next annual general meeting to be held on May 15th, 2014.