Crédit Agricole to Acquire Santander's Stake in CACEIS

Crédit Agricole S.A. has announced an agreement to acquire Santander's 30.5% stake in CACEIS, aiming to take full ownership. This move will make Crédit Agricole the sole shareholder, enhancing its control over CACEIS, an asset servicing provider.

This acquisition aligns with Crédit Agricole's strategy to reinforce CACEIS as a major European player in asset servicing. CACEIS has seen significant growth from organic development and acquisitions, including the recent integration of RBC Investor Services in Europe.

The transaction, set for completion in 2025, remains subject to regulatory approval. Although it aligns with Crédit Agricole's financial goals, it will reduce the fully-loaded CET1 ratio by roughly 30 basis points. Meanwhile, CACEIS and Santander will continue their joint venture in Latin America.