BNP Paribas: EU approves joint venture with CACEIS

(CercleFinance.com) - The European Commission has announced that it has approved the creation of a joint venture by BNP Paribas ("BNPP") and CACEIS SA, both of which are based in France.


The joint venture will bring together the corporate trust services ("CTS") activities of BNPP and CACEIS in France.

BNPP is a global banking group, active in retail banking, corporate and investment banking and other financial services.

CACEIS is a subsidiary of the Crédit Agricole Group, and provides insurance and asset management services to companies, institutional investors, banks and brokers.

The Commission concluded that the proposed acquisition would not raise competition concerns, as the joint venture would continue to face competitive pressure from other CTS providers in France.


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