The French banking group Credit Agricole SA has finalised its acquisition of 49.09 per cent of French factoring company Eurofactor from the French credit insurer Euler Hermes.
The transaction, which puts Eurofactor's global value at Ђ383m, raises Credit Agricole's stake in the factoring specialist to 98.2 per cent.
It also creates France's biggest factory company.
Credit Agricole has pointed out that the first details of Eurofactor's new management structure will be released by mid-2005.
Source: Europe Intelligence Wire
