Credit Agricole Sa: Crédit Agricole Consumer Finance and Banco BPM strengthen their partnership in consumer credit in Italy
21 Décembre 2020 - 10:30AM
Credit Agricole Sa: Crédit Agricole Consumer Finance and Banco BPM
strengthen their partnership in consumer credit in Italy
Press Release
Massy, 21st December 2020.
Crédit Agricole Consumer Finance and
Banco BPMstrengthen their partnership in consumer
credit in Italy
Crédit Agricole Consumer Finance and Banco BPM
announce that on 18 December 2020, they signed an Amendment
Agreement, in order to further strengthen their global partnership
in consumer finance in Italy of Agos Ducato (in which Crédit
Agricole Consumer Finance holds 61% - Banco BPM 39%), introducing
some changes to the agreements signed at the end of 2018 between
Banco BPM, Crédit Agricole S.A. and Crédit Agricole Consumer
Finance.These amendments include additional opportunities for Agos
Ducato to further expand its commercial base and improve its cost
of funding, together with the extension, for an additional period
of up to 24 months, and therefore until 31st July 2023, of the
deadline for the put option exercise referred to a 10% stake held
by Banco BPM in the share capital of Agos Ducato, at the previously
agreed strike price of Euro 150 million.
CA Consumer Finance contact for the
media:Raphaele
Hamel +33 (0)1 87 38 03 61
rhamel@ca-cf.fr
About Crédit Agricole Consumer
Finance:Crédit Agricole Consumer Finance,
Crédit Agricole SA's consumer credit subsidiary, distributes a
broad range of consumer credit and related services (in France,
principally through its commercial trademarks Sofinco, Viaxel and
Creditlift Courtage) for distribution channels as a whole: direct
sales, point-of-sale financing (automotive and home appliances) and
partnerships. Present alongside major distribution, specialised
distribution and institutional brands in the 19 countries where it
operates, CA Consumer Finance offers its partners solutions that
are flexible, responsible and ideally suited to their needs and
those of their customers. Excellence in customer relationships,
empowered teams for customers and commitment to society are the
pillars that make CA Consumer Finance a group that works every day
in the interest of its customers and society. At 31 December 2019,
CA Consumer Finance managed €92 billion in outstanding loans.Learn
more: www.ca-consumerfinance.com
- 2020 12 21 (GB) CACF et BBPM