Crédit Agricole S.A. sets up Italian network by gaining control of Cariparma and FriulAdria

Crédit Agricole S.A. today finalised the acquisition of a 75 per cent interest in Cassa di Risparmio di Parma e Piacenza (Cariparma), further to the agreement signed on 11 October 2006 with Banca Intesa. At the same time, Sacam International, a holding of Crédit Agricole's Regional Banks, completed its acquisition of a 10 per cent stake in Cariparma. As a result, the Crédit Agricole group now owns 85 per cent of Cariparma, with the remaining 15 per cent held by Cariparma Foundation. ...