Crédit Agricole SA will enhance Caceis’ position as a leading player in European asset servicing, further supporting its clients’ business growth objectives.
Crédit Agricole SA and Santander have reached an agreement for Crédit Agricole to acquire Santander’s 30.5% stake in Caceis, the asset servicing provider. Upon completion of this transaction, Crédit Agricole will own 100% of Caceis.
Caceis has recently demonstrated significant growth, aided by the integration of RBC Investor Services’ operations in Europe, which has expanded its client base and product offerings.
Post-transaction, Caceis will continue its long-standing partnership with Santander, with joint control over their Latin American operations remaining intact. The deal is contingent on closing conditions, including regulatory approvals, and is anticipated to finalize in 2025.
This acquisition aligns with Crédit Agricole Group’s return on investment strategy and expected to negatively impact the fully-loaded CET1 ratio of Crédit Agricole SA by approximately 30 basis points.