Credit Agricole Buys Natixis Stake in CACEIS
December 27 2017 - 2:37AM
Dow Jones News
By Max Bernhard
Credit Agricole SA (ACA.FR) said that it had acquired a 15%
stake from Natixis (KN.FR) in CACEIS.
After the acquisition, Credit Agricole will control 100% of the
share capital of CACEIS, its own investor services division, it
said.
The deal will be accretive to the earnings of Credit Agricole
Group and Credit Agricole SA as of 2018 and lower the CET1 ratio--a
measure of high-quality equity capital as a percentage of
risk-weighted assets--of the group and Credit Agricole SA by 5 and
10 basis points respectively, the bank said Sunday.
"This acquisition will reinforce the benefits of integrating
CACEIS into Credit Agricole SA group's Large Customers business
line," Credit Agricole said.
Write to Max Bernhard at Max.Bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
December 27, 2017 02:22 ET (07:22 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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