Credit Agricole Assurances Acquires Remaining 25% of GNB Seguros to Take Full Ownership
October 09 2020 - 3:17AM
Dow Jones News
By Giulia Petroni
Credit Agricole SA said Friday that its subsidiary Credit
Agricole Assurances would acquire a further 25% stake in Portuguese
insurance company GNB Seguros from Novo Banco, taking its ownership
to 100%.
The French bank said the transaction includes a 22-year non-life
insurance distribution agreement between Novo Banco and GNB Seguros
for the distribution of GNB Seguros's policies in Portugal.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 09, 2020 03:02 ET (07:02 GMT)
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