July 24, 2018 / 8:37 AM / 5 months ago

Credit Agricole to take 5 pct stake in Creval as part of insurance deal-sources

MILAN/PARIS, July 24 (Reuters) - French bank Credit Agricole is set to take a 5 percent stake in Credito Valtellinese as part of an insurance partnership it is about to sign with the mid-sized Italian bank, three sources said on Tuesday.

The sources were confirming a press report in Italian daily MF which said the deal had an overall value of 70 million euros ($82 million).

Shares in Creval extended gains after the confirmation, soaring more than 10 percent and giving a 5 percent stake a value of around 35 million euros.

$1 = 0.8557 euros Reporting by Andrea Mandala and Paola Arosio in Milan, Inti Landauro in Paris, editing by Giulia Segreti

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below