- 3 min
Crédit Agricole S.A. has finalised the acquisition of 35% of the share capital and voting rights of CACEIS for €595 million. The acquisition has gone ahead according to schedule and received all of the necessary authorisations from the regulatory authorities.
As a result of this acquisition, Crédit Agricole S.A. now owns 85% of CACEIS's share capital (compared with 50% previously) and thus exercises exclusive control. Natixis maintains a 15% stake.
This acquisition will strengthen the Crédit Agricole Group's position in financial services for institutional clients. With around €2.2 trillion in assets under custody and €1 trillion in funds under administration, CACEIS ranks among the world leaders in these businesses.
Through this transaction, the Group will:
Boost its base of recurring earnings in a business enjoying sustained growth that is not very capital-intensive;
Enhance its ability to increase the operational efficiency of this industrial platform. In addition, the platform is set to be opened up to other European partners to harness the economies of scale inherent in these activities;
Unlock more synergies with the Asset Management business lines.