Jan
18
Credit Agricole Eyes Capital Boost by Selling Bank Stakes
By-
Deal with regional banks could be valued at about $19 billion
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Credit Agricole may announce transaction with lenders in March
Credit Agricole SA, the French lender seeking ways to bolster capital, is exploring the sale of its stakes in more than three dozen regional banks in a deal that could be valued at about 17 billion euros ($19 billion), people familiar with the matter said.
Under the plan, each of the regional lenders would buy back the 25 percent stakes currently owned by Credit Agricole, raising proceeds for its capital buffers, said the people, who asked not to be identified because deliberations are private. The French lender may be ready to announce a deal in March, though it is discussing various options and hasn’t made a final decision, the people said…
