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Crédit Agricole: agreement for takeover of Banca Leonardo.

(CercleFinance.com) - Indosuez Wealth Management, Crédit Agricole Group's global wealth management brand, has announced an agreement to acquire 67.
67% of Banca Leonardo, a leading wealth management company in Italy.

Its subsidiary CA Indosuez Wealth (Europe) will offer Banca Leonardo's other shareholders to buy back their shares at the same price and under the same terms, so that its stake in Banca Leonardo can eventually rise to 100%.

The acquisition will enable Indosuez Wealth Management to acquire 5.9 billion euros in assets under management. The transaction is subject to approval from the relevant supervisory authorities. It is set to be finalised in the first half of 2018.

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