The French Bank Credit Agricole, owners of the French factoring company Transfact, has acquired 21million shares (equivalent to 1.2%) in Italian banking group Banca Commerciala Italiana (Comit, owners of the Italian factoring company), for L280bn. When banking group Banca Intesa merges with Comit, Credit Agricole will have 30 million shares in IntesaBci.
After the merger, the stake of Banca Intesa’s shareholders’ agreement in the new, merged bank will drop to 38.1%, while that of Credit Agricole will drop to 14.5%.
Source: Il Mondo