PROSPECTUS SUPPLEMENT NO. 1 DATED 22 May 2015 TO THE BASE PROSPECTUS DATED 2 APRIL 2015

Transcription

1 PROSPECTUS SUPPLEMENT NO. 1 DATED 22 May 2015 TO THE BASE PROSPECTUS DATED 2 APRIL 2015 LA POSTE Euro 7,000,000,000 Euro Medium Term Note Programme Due from one month to 30 years from the date of original issue This prospectus supplement No. 1 (the Prospectus Supplement No. 1 ) is supplemental to, and should be read in conjunction with, the base prospectus dated 2 April 2015 (the Base Prospectus ) prepared in relation to the 7,000,000,000 Euro Medium Term Note Programme of La Poste (the Issuer ) and which received visa n on 2 April 2015 from the Autorité des marchés financiers (the AMF ). The Base Prospectus, as supplemented, constitutes a base prospectus for the purpose of the Directive 2003/71/EC of 4 November 2003, as amended, on the prospectus to be published when securities are offered to the public or admitted to trading (the Prospectus Directive ). Application has been made to the AMF in France for approval of the Prospectus Supplement No. 1 to the Base Prospectus, in its capacity as competent authority pursuant to Article of its General Regulations (Règlement Général) which implements the Prospectus Directive. Unless the context otherwise requires, terms defined in the Base Prospectus shall have the same meaning when used in this Prospectus Supplement No. 1. This Prospectus Supplement no. 1 has been prepared pursuant to Article 16.1 of the Prospectus Directive and Article of the Règlement Général of the AMF in order to supplement the Base Prospectus with the new significant information relating to the Issuer that has been made public since the publication of the Base Prospectus. Save as disclosed in this Prospectus Supplement No. 1, no other significant new factor, material mistake or inaccuracy relating to information included in the Base Prospectus has arisen or been noted, as the case may be, since the publication of the Base Prospectus. To the extent that there is any inconsistency between (a) any statement in this Prospectus Supplement No. 1 or any statement incorporated by reference into the Base Prospectus, as supplemented by this Prospectus Supplement No. 1, and (b) any other statement in or incorporated by reference in the Base Prospectus, the statements in (a) above will prevail. Copies of this Prospectus Supplement No. 1, the Base Prospectus and any document incorporated by reference herein or therein will be available on the website of the Issuer ( and may be obtained without charge from the registered office of the Issuer during normal business hours. 1

2 TABLE OF CONTENTS RECENT DEVELOPMENTS... 3 PERSON RESPONSIBLE FOR THE INFORMATION IN THIS SUPPLEMENT

3 RECENT DEVELOPMENTS The following recent developments have been published by the Issuer: 11 May 2015 press release La Banque Postale and Siparex announce the merger of XAnge Private Equity and Siparex La Banque Postale and Siparex announce the signing of a merger agreement between XAnge Private Equity and Siparex. This transaction will allow Siparex to become the majority shareholder of XAnge Private Equity. For its part, La Banque Postale, which currently holds a 90% stake in Xange Private Equity, will divest its entire share, whilst Le Groupe La Poste acquires a direct participation of 20%. A long-term industrial project based on the synergies between XAnge and Siparex Created in 2004, and with a presence in France and Germany, XAnge Private Equity manages 315 million on behalf of third parties. With a focus on two main businesses: innovation and venture/buyout capital, the company is widely recognised for its expertise in the area of new technologies. Siparex is one of the leading independent French players in SME and mid-tier company financing, also present in the innovation sector, with a management portfolio of 1.2 billion and over 900 businesses financed since its creation. With a presence in France via 7 offices, in Italy, Spain and benefitting from strategic partnerships in North Africa, the group combines the local and the international at the core of its development strategy. Building on the synergy of the teams, this forward-looking project is created around the two brands: Siparex for investment in the Mid-market and Regional segments and XAnge for innovation. It also makes it possible to unite all of the investment partners of the two organisations, with Le Groupe La Poste continuing its involvement in private equity, a strategy it initiated in the 2000s. A European leader This partnership will allow the Siparex group to strengthen its position as a significant player at European level, with over 1.5 billion of assets under management and expert teams in equity financing and business support, from the young innovative start-up to the mid-tier company, with a focus on 3 strong basic activities: Venture Capital/Mid-market Buyouts, Regional Investment and Investment in Innovation. This transaction will also strengthen the internationalisation of Siparex and XAnge, with a presence in France, Germany, Italy, Spain and North Africa, and will contribute further drivers of growth to their respective shareholdings. The transaction will be completed in the third quarter of 2015 and is subject to the customary regulatory approvals. About Siparex The Siparex Group, created 38 years ago, is the French independent specialist in investment capital for SMEs and one of the largest independent investment capital groups in France. A leading partner of mid-tier companies and SMEs, it invests private equity capital in companies, contributing to their internal growth. In this way, it supports businesses from day to day in their development or buyout projects, as well as in their strategic, operational and financial planning. The Group manages capital of 1.2 million, spread between "Mid-market" (SMEs/mid-tier companies), "Regional Investment" (local SMEs) and "Innovation" (fast-growing technological SMEs). Siparex covers all of mainland France from offices in Paris, Lyon, Besançon, Lille, Nantes, Strasbourg and Limoges and also has a presence in Madrid and Milan. About XAnge Private Equity Created in 2004, and with a presence in France and Germany, XAnge Private Equity manages or advises 315 million on behalf of third parties. - Innovation: investment in fast-growing innovative companies, particularly those linked to information technology. - Growth and buyout: investment in SMEs of all sectors in growth or transfer stages via the XPansion fund The XAnge team is made up of 15 employees, including 10 investment professionals 3

4 About Le Groupe La Poste A publicly limited company with 100% public ownership since 1st March 2010, Le Groupe La Poste is structured around 5 divisions: Mail-Parcel-Services, La Banque Postale, the La Poste Network, GeoPost and Digital. The Group operates in over 40 countries across 4 continents. Each day, La Poste's 17,000 contact points, the largest local sales network in France, welcome 1.7 million customers through their doors. La Poste distributes 23.5 billion items each year throughout the world (letters, advertising material and packages), 6 days a week. In 2014, the Group achieved turnover of 22.2 billion, including 17.9% from international business, and employs almost 260,000 staff. Le Groupe La Poste, in its "La Poste 2020: Conquering the future" strategic plan Has set itself the objective of accelerating the development of its 5 divisions and advancing into new territories. La Poste places the human factor and trust at the centre of its dealings with customers. Using its converging networks that are there for everyone, everywhere and every day, the Group supports its customers in order to simplify their future. About La Banque Postale ( La Banque Postale, a subsidiary of Le Groupe La Poste, operates in the retail banking, insurance and asset management sectors. As a bank and citizen, the company works alongside its customers in a long-term banking relationship with a complete range of accessible products and services at a reasonable price. Both a local bank and a public service, La Banque Postale meets the needs of all: individuals, businesses, professionals and the local public sector. It offers its services to customers via the post office network, the Internet and by telephone in a fully multi-channel relationship. La Banque Postale is: billion euros in GNP million active customers - 423,000 Business, Community and Association customers - More than 7.7 million bank cards - 17,000 contact points Figures as of year end April 2015 press release La Banque Postale Enters Exclusive Negotiations With Nexity To Purchase Its Stake In Ciloger The Supervisory Board of La Banque Postale, meeting yesterday, has authorised the entry into exclusive negotiations with Nexity to acquire Nexity s stake in the share capital of Ciloger. This acquisition would bring La Banque Postale s stake in Ciloger to 90%, up from its current holding of 45%. The move is fully in line with La Banque Postale s aim of developing its operations in asset management for the benefit of its clients. The sale of this non-strategic asset will have no significant impact on Nexity s 2015 financial statements. In addition to this sale, La Banque Postale and Nexity intend to strengthen their partnerships in real estate and financial operations. Pending approval of the deal by competent authorities, the transaction is expected to take place during the second quarter of About La Banque Postale ( La Banque Postale, a subsidiary of Le Groupe La Poste, is present in the retail banking, insurance and asset management markets. As a civic-minded bank, it supports its customers by offering a sustainable banking relationship with an extensive range of reasonably priced and accessible products and services. As a local bank providing a public service, La Banque Postale meets the needs of everyone: private individuals, businesses, professionals and the local public sector. It strives to serve its customers through the network of post offices, online and over the telephone as part of a fully multi-channel relationship. La Banque Postale key figures - 5,673 billion NBI million active customers - 423,000 Businesses, Local Authorities and Associations as customers - Over 7.7 million bank cards - 17,000 retail outlets (Figures as at end 2014) 4

5 About Ciloger Established in 1984, Ciloger is the portfolio manager for the SCPI and OPCI real estate investment products sold by La Banque Postale and Caisses d Epargne. At 31 March 2015, the value of real estate assets under management was 4.5 billion. With twelve OPCIs restricted to institutional investors, one OPCI for individual investors that is eligible for use in assurance-vie savings accounts, and fourteen SCPIs, Ciloger sets the standard in the design and management of OPCIs and is a leader on the SCPI market. Ciloger has undertaken an active approach to environmental issues, endorsing the United Nations Principles for Responsible Investment (UN-PRI). 1 April 2015 press release Malakoff Médéric, La Mutuelle Générale and La Banque Postale enter into partnership for company health insurance Following exclusive negotiations, Malakoff Médéric, La Mutuelle Générale and La Banque Postale announce the signature of an agreement establishing the framework for their partnership in company health insurance. Malakoff Médéric and La Mutuelle Générale will respectively hold 14% and 35% of La Banque Postale Assurance Santé, a subsidiary of La Banque Postale, which retains a 51% holding in the company. The agreement extends the individual health insurance range to an initial range of company health insurance products distributed throughout France from 2 April This new offer draws on the expertise of Malakoff Médéric and La Mutuelle Générale in the field of company insurance products and services. It is part of La Banque Postale s strategy to develop its business in the corporate and professional market. This company health insurance offer complements La Banque Postale's existing range of products and services aimed at corporate customers. La Banque Postale now provides SMEs with a simple and accessible modular offer that is true to its values, in the lead-up to statutory supplementary health cover being extended to all employees from 1 January About Malakoff Médéric Malakoff Médéric is a major player in supplementary social security cover, with two core businesses (figures as at 31 December 2013): personal insurance (health, personal risk, and pension schemes), with 3.5 billion euros of recurrent turnover, 3.8 billion euros in equity capital, and a solvency margin equal to 5.2 times the statutory requirement. Malakoff Médéric provides health and personal risk insurance for 191,000 businesses, 5 million people and their families. supplementary pension scheme management, which represents 10 billion euros in contributions collected, as part of a general-interest mission conducted on behalf of Agirc-Arrco. Because the group has equal labour/management representation, operates as a mutual insurance company and is a non-profit, its governance ensures that the interests of both businesses and employees are taken into account and defended. About La Mutuelle Générale La Mutuelle Générale is a major player in the social economy, providing insurance cover for nearly 1.4 million people. It has been a partner of the La Poste and Orange groups for nearly 70 years, operating on the retail and business market for health and personal risk cover. Its experience in managing both statutory and supplementary insurance schemes has given it comprehensive expertise in health insurance. La Mutuelle Générale does more than reimburse medical expenses: it strives to give its members personalised support through innovative services using new information and communication technology, more specifically in the area of preventive health care. True to its values as a mutual insurance company, and because it has no shareholders to remunerate, La Mutuelle Générale is free to construct a long-term strategy for the sole benefit of its members. About La Banque Postale ( La Banque Postale, a subsidiary of Le Groupe La Poste, is present in the retail banking, insurance and asset management markets. As a civic-minded bank, it supports its customers by offering a sustainable banking relationship with an extensive range of reasonably priced and accessible products and services. As a local bank providing a public service, La Banque Postale meets the needs of everyone: private individuals, businesses, professionals and the local public sector. It strives to serve its customers through the network of post offices, online and over the telephone as part of a fully multi-channel relationship. La Banque Postale: key figures 5

6 billion NBI million active customers - 423,000 Businesses, Local Authorities and Associations as customers - Over 7.7 million bank cards - 17,000 retail outlets Figures as at end

7 PERSON RESPONSIBLE FOR THE INFORMATION IN THIS SUPPLEMENT To the best knowledge of the Issuer (having taken all reasonable care to ensure that such is the case), the information contained in this Prospectus Supplement No. 1 (when read together with the Base Prospectus) is in accordance with the facts in any material respect and contains no omission likely to affect its import in any material respect. The Issuer accepts responsibility accordingly. La Poste 44, boulevard de Vaugirard Paris cedex 15 France duly represented by: Eric Bosdonnat Head of Financial Operations and Treasury on 22 May 2015 Autorité des marchés financiers In accordance with Articles L and L of the French Code monétaire et financier and with the General Regulations (Réglement Général) of the Autorité des marchés financiers ( AMF ), in particular Articles to , the AMF has granted to this Supplement the visa No on 22 May The Base Prospectus, as supplemented by the Prospectus Supplement No. 1, may only be used for the purposes of a financial transaction if completed by Final Terms. This Prospectus Supplement No. 1 was prepared by the Issuer and its signatories assume responsibility for it. In accordance with Article L I of the French Code monétaire et financier, the visa was granted following an examination by the AMF of "whether the document is complete and comprehensible, and whether the information it contains is coherent". It does not imply an approval by the AMF of the opportunity of the transactions contemplated hereby nor that the AMF has verified the accounting and financial data set out in it. This visa has been granted subject to the publication of Final Terms in accordance with Article of the AMF's General Regulations, setting out the terms of the securities being issued. 7