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Apr 26, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Credit Agricole

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

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

  • 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.
Published 23 Apr, 2021 07:40pm
Creval investor DGFD asks Credit Agricole to up bid price
Business & Finance

Creval investor DGFD asks Credit Agricole to up bid price

  • 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.
Published 12 Apr, 2021 07:23pm
Sterling sinks to 5-week low vs. euro, one-week low vs dollar
Markets

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

  • 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.
Published 07 Apr, 2021 08:36pm
Santander buys Indosuez's wealth management business in Miami
Business & Finance

Santander buys Indosuez's wealth management business in Miami

  • 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.
Updated 16 Mar, 2021 10:02pm
Banco BPM, Credit Agricole revise terms of Agos partnership
Business & Finance

Banco BPM, Credit Agricole revise terms of Agos partnership

  • 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).
Published 21 Dec, 2020 07:33pm