French banking group Credit Agricole has disposed its entire 15.4% stake in local investment firm Eurazeo to JCDecaux Holding, the investment company of the Decaux family, in a deal worth €790.5m.
The French lender expects the deal to strengthen its common equity Tier 1 ratio by over 10 basis points.
Go deeper with GlobalData
The bank also said that it would book a gain of around €100m on its net income group share in its second-quarter results.
“For Crédit Agricole S.A., which since 2004 has accompanied Eurazeo’s growth, this disposal is aligned with its strategy to divest of its capital-consuming, non-controlling stakes. Crédit Agricole S.A. reiterates its confidence in the future development of Eurazeo, with the Decaux family as long-term shareholder,” the French bank said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
