CCF, the French bank, is to acquire the entirety of its factoring subsidiary Elysees Factor through the purchase of a 34 per cent stake from Eurofactor, a subsidiary of the banking group Credit Agricole. CCF has an option to purchase the stake under a shareholders' agreement.
The exercising of the option follows the takeover at the end of last year by Credit Agricole of the 49.09 per cent stake held by Euler Hermes in Eurofactor.
Source: Le Figaro
