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Credit Agricole SA's CA CIB Signs Sales & Purchase Agreement with Kepler Capital Markets for Sale of Cheuvreux; Redundancies Planned at Cheuvreux-L'AGEFI Quotidien


Monday, 10 Dec 2012 07:00pm EST 

L'AGEFI Quotidien reported that Credit Agricole SA's CA CIB signed a sales & purchase agreement with Kepler Capital Markets on December 7, 2012 for the sale of Chevreux, with a view to closing the deal in the first quarter of fiscal year 2013. Chevreux plans to cut 290 out of 360 jobs in France, and worldwide it is expected that only 200 employees will remain out of an existing staff of 200. Credit Agricole SA is to lead a plan to safeguard jobs, whereby staff will be redeployed within CA CIB, or made redundant if they do not wish to take up the new post they are offered. There is also a possibility that around 70 employees could be redeployed within subsidiaries of Kepler. 

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