Crédit Agricole: will hold 100% of CACEIS' capital
(CercleFinance.com) - Crédit Agricole announces the acquisition of Santander's 30.
5% stake in CACEIS, its asset servicing subsidiary.
Following this transaction, Crédit Agricole S.A. will hold 100% of CACEIS' capital.
In recent years, CACEIS has boasted strong growth, both organically and through several strategic acquisitions. The recent integration of RBC Investor Services' activities in Europe has enabled CACEIS to broaden its customer base and product range.
Alongside the proposed transaction, CACEIS and Santander confirm their long-term partnership and their joint venture in Latin America will remain under joint control.
The transaction will have a negative impact of approximately 30 basis points on Crédit Agricole S.A.'s CET1 ratio.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
5% stake in CACEIS, its asset servicing subsidiary.
Following this transaction, Crédit Agricole S.A. will hold 100% of CACEIS' capital.
In recent years, CACEIS has boasted strong growth, both organically and through several strategic acquisitions. The recent integration of RBC Investor Services' activities in Europe has enabled CACEIS to broaden its customer base and product range.
Alongside the proposed transaction, CACEIS and Santander confirm their long-term partnership and their joint venture in Latin America will remain under joint control.
The transaction will have a negative impact of approximately 30 basis points on Crédit Agricole S.A.'s CET1 ratio.
Copyright (c) 2024 CercleFinance.com. All rights reserved.