Crédit Agricole S.A. has signed an agreement for the acquisition of Santander’s 30.5% stake in CACEIS, its asset services provider, aiming to bring its ownership to 100%. The deal is expected to close in 2025.
Crédit Agricole confirms its strategic priority to continue strengthening CACEIS’ position as a major European asset servicing player. Over the recent years, CACEIS has experienced robust growth, both organically and through strategic acquisitions. The recent addition of RBC Investor Services’ operations in Europe has enabled the company to expand its clients base and product range.
In parallel to this envisaged transaction CACEIS and Santander are maintaining their long-term partnership. Their joint venture for the Latin American operations will remain jointly controlled.
The transaction is consistent with the Crédit Agricole Group’s targets in terms of return of investment and return on tangible equity, and will have a negative impact of approximately 30 basis points on the fully-loaded CET1 ratio of Crédit Agricole S.A.