By Nathan Allen 
 

Credit Agricole SA's (ACA.FR) asset-servicing subsidiary Caceis said Monday that it has agreed to pay 188 million euros ($213 million) for Netherlands-based KAS Bank NV (KA.AE).

Kas Bank's management and supervisory boards unanimously support the offer, which is set to close in the third quarter, Caceis said.

Both companies provide financial services to a customer base of professional investors such as asset managers and investment funds.

Caceis said the transaction will both reinforce its position in the Netherlands, and enhance its ability to service pension funds and insurance companies.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

February 25, 2019 02:19 ET (07:19 GMT)