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Credit Agricole

Dollar index flat in Europe

Dollar index flat in Europe

Updated 28 Apr, 2021 10:04am
LONDON: The dollar hovered above multi-week lows versus major peers on Tuesday, weighed by subdued Treasury yields...
Credit Agricole secures two-thirds acceptance in $1bn takeover bid for Creval

Credit Agricole secures two-thirds acceptance in $1bn takeover bid for Creval

Published 23 Apr, 2021 07:40pm
  • The acquisition allows the Italian arm of France's no.2 bank to double its market share in Italy's wealthiest areas when at a time when the country's fragmented banking sector is consolidating.
  • The bid was conditional on the two-thirds threshold which guarantees approval of extraordinary shareholder resolutions at meetings, allowing Credit Agricole Italia to absorb Creval and maximise projected savings.
Creval investor DGFD asks Credit Agricole to up bid price

Creval investor DGFD asks Credit Agricole to up bid price

Published 12 Apr, 2021 07:23pm
  • The Italian arm of Credit Agricole in November said it would spend 737 million euros ($868 million), or 10.5 euros per share, on Creval to expand its presence in Italy's consolidating banking sector, its biggest market outside France.
  • DGFD, which owns around 6% of the Italian bank, joins a number of other Creval shareholders who already rejected the offer as too low.
Sterling sinks to 5-week low vs. euro, one-week low vs dollar

Sterling sinks to 5-week low vs. euro, one-week low vs dollar

Published 07 Apr, 2021 08:36pm
  • The pound fell on Tuesday, losing 0.6% against the dollar and over 1% against the euro - its worst day against the single currency in five weeks as investors took cash off the table.
  • Against the euro, it traded 0.7% lower to the euro at 86.50 pence, having hit a five-week low of 86.62 pence.
Santander buys Indosuez's wealth management business in Miami

Santander buys Indosuez's wealth management business in Miami

Updated 16 Mar, 2021 10:02pm
  • Santander, which did not disclose the value of the deal, expects to close it by mid-2021, pending regulatory approval.
  • Banks in Europe are grappling with the effects from ultra low interest rates and the economic fallout from the COVID-19 pandemic, and are diversifying into more profitable businesses, such as wealth management, with higher, stable fee incomes.
Banco BPM, Credit Agricole revise terms of Agos partnership

Banco BPM, Credit Agricole revise terms of Agos partnership

Published 21 Dec, 2020 07:33pm
  • The changes will give Agos additional opportunities to further expand its client base and improve its cost of funding.
  • The changes to an 2018 agreement include an up to 24-month extension - to July 2023 - of a deadline for Banco BPM to exercise a put option on a 10% stake in Agos at the previously agreed strike price of 150 million euros ($183 million).
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