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.
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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.
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(END) Dow Jones Newswires
December 27, 2017 02:22 ET (07:22 GMT)