OREANDA-NEWS. Dexia Credit Local decided to enter into exclusive negotiations with the Societe Hospitaliere d'Assurances Mutuelles (Sham), a major provider of third party liability health insurance, leading a consortium also including public sector mutual insurers, with a view to disposing of Sofaxis. A subsidiary of Dexia Credit Local, Sofaxis is a French insurance broker offering life protection policies and related services to French municipalities and other local authorities.

The parties intend to achieve the discussions relating to the disposal of 100% of the shares of Sofaxis by the consortium led by Sham in the coming weeks, subject to an agreement on the contractual documentation and authorization by the employee representative bodies, in accordance with the applicable legal framework.