Crédit Agricole: confirms acquisitions in Italy.
(CercleFinance.com) - Crédit Agricole has announced signing an agreement for the acquisition of over 95% of the Caisses d'épargne of Cesena, Rimini and San Miniato.
The terms of the agreement will therefore enable all three banks to obtain sound financial structures, a necessary condition so that they can ensure their supporting roles in the development of their respective regions, while Credit Agricole Cariparma will contribute to strengthening the Italian banking system and lead a deal that creates value over the long term, in strict compliance with its investment criteria, the group said.
The transaction is set to be finalised by the end of 2017.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The terms of the agreement will therefore enable all three banks to obtain sound financial structures, a necessary condition so that they can ensure their supporting roles in the development of their respective regions, while Credit Agricole Cariparma will contribute to strengthening the Italian banking system and lead a deal that creates value over the long term, in strict compliance with its investment criteria, the group said.
The transaction is set to be finalised by the end of 2017.
Copyright (c) 2017 CercleFinance.com. All rights reserved.