Credit Agricole SA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Thomson Reuters StreetEvents
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Credit Agricole SA Enters into Exclusive Negotiations with Alpha Bank over Sale of Emporiki
Credit Agricole SA announced that it has entered into exclusive negotiations with Alpha Bank to acquire the entire share capital of Emporiki. Credit Agricole SA and Alpha Bank aim to complete the disposal on December 31, 2012 subject to the necessary approvals from the relevant authorities and according to applicable work councils rules. Alpha Bank's firm offer complies with the rules and regulations set by the relevant authorities, notably: the recapitalisation of Emporiki by Credit Agricole SA, which has already injected EUR 2.3 billion in July 2012, would be increased to EUR 2.85 billion, and Credit Agricole SA would subscribe to EUR 150 million in convertible bonds to be issued by Alpha Bank, redeemable in Alpha Bank's shares subject to conditions and on Credit Agricole SA's initiative. Credit Agricole SA's current funding to Emporiki would be reduced accordingly (EUR0,7 billion); a disposal price of EUR1; repayment in three instalments - the last one scheduled for 2014 year-end - of the residual refinancing provided by Credit Agricole SA to Emporiki at the disposal date, guaranteed by quality assets.
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