Credit Agricole S.A. has reached an agreement to purchase Santander's 30.5% stake in CACEIS, an asset servicing provider. This acquisition will result in Credit Agricole S.A. obtaining full ownership of CACEIS, thereby consolidating its control over 100% of the company's share capital.
Despite this transaction, CACEIS and Santander will continue their long-term partnership. Their joint venture concerning operations in Latin America will still be under joint management.
The deal is anticipated to be finalized by 2025.
According to Credit Agricole Group, this acquisition aligns with its investment return and return on tangible equity objectives, though it is expected to decrease Credit Agricole S.A.'s fully-loaded CET1 ratio by approximately 30 basis points.
The material has been provided by InstaForex Company - www.instaforex.com
Despite this transaction, CACEIS and Santander will continue their long-term partnership. Their joint venture concerning operations in Latin America will still be under joint management.
The deal is anticipated to be finalized by 2025.
According to Credit Agricole Group, this acquisition aligns with its investment return and return on tangible equity objectives, though it is expected to decrease Credit Agricole S.A.'s fully-loaded CET1 ratio by approximately 30 basis points.
The material has been provided by InstaForex Company - www.instaforex.com