ABN AMRO makes partial exit from French venture business

The venture arm of ABN AMRO Capital France has merged with XAnge Capital, the private equity business of La Poste, the French state-owned post office.

The merger will leave XAnge controlling the portfolio, less than 15 months after it was set up by La Poste subsidiary Sofipost. ABN AMRO will retain a 33% interest.

XAnge has three companies on its books at present and the joint venture with ABN AMRO will see this swell to almost 30.

La Poste is a 34% shareholder in XAnge, with the balance split between AGF, state-owned bank Caisse des Depots et Consignations, state-controlled insurer CNP Assurances, Deloitte, GMF, LaSer-Cofinoga and Neopost.