Credit Agricole: To Sell Credit Uruguay Banco To BBVA
May 03 2010 - 1:10PM
Dow Jones News
French bank Credit Agricole SA (ACA.FR) Monday said it has
signed an agreement to sell Credit Uruguay Banco, its retail
banking unit in Uruguay, to Spain's Banco Bilbao Vizcaya Argentaria
SA (BBVA.MC) as part of its plan to refocus its retail banking
operations on Europe and the Mediterranean.
Financial details of the deal weren't disclosed.
Credit Uruguay Banco is the third-largest bank in the private
sector in Uruguay, with more than $1 billion in total assets.
The deal must be approved by Uruguay's and Spain's financial
regulators before it becomes definitive, Credit Agricole said.
-By Elena Berton, Dow Jones Newswires; +33 (0)1 40 17 17 65;
elena.berton@dowjones.com
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