on CREDIT AGRICOLE (EPA:ACA)
Crédit Agricole increases its stake in Banco BPM
Crédit Agricole SA announced the conclusion of financial instruments for 5.2% of the capital of Banco BPM. With this transaction, Crédit Agricole now holds 15.1% of the capital of Banco BPM, including a previous stake of 9.9%. This transaction remains subject to obtaining the necessary regulatory authorizations.
Crédit Agricole plans to further increase its stake, potentially reaching 19.99% of the capital. This action is in line with its long-term investor strategy with Banco BPM, strengthening collaborations in consumer credit, non-life insurance and other financial sectors.
Crédit Agricole does not plan to launch a public offer for Banco BPM. The impact of this transaction on Crédit Agricole SA's CET1 ratio is expected to be insignificant.
R. P.
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