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| Name | Symbol | Market | Type |
|---|---|---|---|
| Credit Agricole SA (PK) | USOTC:CRARY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 9.39 | 9.39 | 9.39 | 0.00 | 01:00:00 |
From Apr 2022 to Apr 2025
By Cecilia Butini
Credit Agricole SA said Monday that it has signed a memorandum of understanding with Royal Bank of Canada over a potential acquisition by its asset servicing arm CACEIS of the Canadian bank's investor-services operations in Europe.
Credit Agricole said the transaction, which is expected to happen by the third quarter of 2023, would boost CACEIS's assets with about 4.8 trillion euros ($4.66 trillion) in assets under custody and EUR3.5 trillion in assets under administration.
The acquisition would materialize a return on investment of more than 10% over three years thanks to synergies, according to Credit Agricole. The bank also said the transaction would negatively affect its common equity Tier 1 and group CET1 ratio by less than 10 basis points.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
October 17, 2022 02:24 ET (06:24 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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