Kepler Capital Market has completed the acquisition of Credit Agricole Cheuvreux (CA Cheuvreux), first announced in July last year.
Kepler Cheuvreux aims to be a multi-local broker with a Pan-European footprint.
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Crédit Agricole CIB will become a long-term partner and a strategic shareholder in the new group via a capital raising with a shareholding of 15%. UniCredit also takes a 5% stake in the expanded group at Closing. Meanwhile, the management and staff of Kepler will hold circa 40% of the equity and will retain management control of the company.
Post the capital raising, the group will be strongly capitalised with shareholders’ funds of circa EUR140 million and a Basel II capital ratio of 25 %. As part of the agreement, Crédit Agricole CIB will provide long-term financing to Kepler Cheuvreux.
The strategic alliance between Crédit Agricole CIB and Kepler Cheuvreux will allow Crédit Agricole’s corporate customers to have access to a distribution platform with over 1,200 institutional investors worldwide for Equity Capital Markets (ECM) transactions.
Laurent Quirin, CEO of Kepler, said: "I believe that we are in the process of creating the leading brokerage business in Continental Europe. We are delighted to have established a strong partnership with Crédit Agricole CIB along the same lines as the successful ECM partnership that we have already implemented with UniCredit."
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