Credit Agricole to Launch Squeeze-Out for Remaining Credito Valtellinese Shares
20 Mai 2021 - 7:55AM
Dow Jones News
By Pietro Lombardi
Credit Agricole SA said late on Wednesday that it has crossed
the 95% threshold in Credito Valtellinese SCARL and that it will
reach 100% ownership of the Italian bank's share capital via a
squeeze-out procedure.
The French bank will thus get the full control of CreVal shares
for a total amount of 861 million euros ($1.05 billion).
Credit Agricole plans to merge Credito Valtellinese with its
Italian business Credit Agricole Italia next year.
Write to Pietro Lombardi at pietro.lombardi@wsj.com;
@pietrolombard10
(END) Dow Jones Newswires
May 20, 2021 01:40 ET (05:40 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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