Credit Agricole: partnership with Amundi and Banco Sabadell
(CercleFinance.com) - As part of its strategic project, Crédit Agricole says that its subsidiary Amundi has entered into a strategic partnership with Banco Sabadell, for the distribution of asset management products at Banco Sabadell's agencies in Spain, over a period of 10 years.
Amundi will also acquire 100% of Sabadell Asset Management, the asset management subsidiary Banco Sabadell, for a cash purchase price of 430 million euros. The transaction is expected to close in the third quarter of 2020.
This transaction will extend the group's universal banking model.
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