Crédit Agricole: sells stake in Eurazeo.
(CercleFinance.com) - Credit Agricole SA has announced that it has signed an agreement with the Decaux family's investment company, JCDecaux Holding, for the sale of its 15.
42% stake in Eurazeo for a total of 790.5 million euros.
At the same time, the bank has set up a scheme enabling it to be immune to price changes of the 4,864,740 shares in Eurazeo, to which the convertible bonds issued in September 2016 were attached.
This disposal will have a slightly positive impact of 10 basis points on Credit Agricole SA's unphased CET1 ratio and will increase its Q2 2017 net income group share by approximately 100 million euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
42% stake in Eurazeo for a total of 790.5 million euros.
At the same time, the bank has set up a scheme enabling it to be immune to price changes of the 4,864,740 shares in Eurazeo, to which the convertible bonds issued in September 2016 were attached.
This disposal will have a slightly positive impact of 10 basis points on Credit Agricole SA's unphased CET1 ratio and will increase its Q2 2017 net income group share by approximately 100 million euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.