12-27-17 2:22 AM EST | Email Article
   By Max Bernhard 
 

Credit Agricole SA (ACA.FR) said that it had acquired a 15% stake from Natixis (KN.FR) in CACEIS.

After the acquisition, Credit Agricole will control 100% of the share capital of CACEIS, its own investor services division, it said.

The deal will be accretive to the earnings of Credit Agricole Group and Credit Agricole SA as of 2018 and lower the CET1 ratio--a measure of high-quality equity capital as a percentage of risk-weighted assets--of the group and Credit Agricole SA by 5 and 10 basis points respectively, the bank said Sunday.

"This acquisition will reinforce the benefits of integrating CACEIS into Credit Agricole SA group's Large Customers business line," Credit Agricole said.

 

Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard

 

(END) Dow Jones Newswires

December 27, 2017 02:22 ET (07:22 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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