Crédit Agricole S.A. will acquire Santander’s 30.5% stake in Caceis, gaining full ownership of the asset servicing provider.
As one of the largest banking groups in Europe, Crédit Agricole considers this transaction, of undisclosed value, a “strategic priority to strengthen Caceis’ position as a major European asset servicing player”.
Caceis’ recent acquisition of RBC Investor Services’ European operations has expanded its client base and product range.
Caceis expands digital asset services in Luxembourg
Despite the stake acquisition, Caceis and Santander will continue their long-term partnership, with their joint venture in Latin America remaining under joint control.
The transaction, pending regulatory approvals and customary conditions, is expected to close in 2025.
Crédit Agricole has confirmed that the acquisition aligns with its strategic goals for return on investment and return on tangible equity. However, it will have a negative impact of approximately 30 basis points on the fully-loaded CET1 ratio of Crédit Agricole S.A.
