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Crédit Agricole becomes the first shareholder of Banco Bpm

Obtains shares equal to 9.18% of the share capital

Credit Agricole announced that it has acquired a 9.18% stake in Banco Bpm as a result of purchases on the market and an operation with a leading international investment bank. This transaction testifies to the strong appreciation of the bank for the qualities of Banco Bpm: "a solid company, with a positive outlook on the financial level and a strong management team and with a proven track-record", says a press release.

For the French - already present in force in Italy where they bought Cariparma, Friuladria and more recently, Caricesena, Carim and Carismi and Creval - "the operation consolidates the strategic and long-term relationship of the group with Banco Bpm, established above all by consumer credit partnership through the Agos joint venture". Crédit Agricole, which has not yet asked the ECB to exceed the 10% stake, "intends to expand the scope of the strategic partnership with Banco Bpm", say the French.

The stock of Bpmin stock market made sparks gaining over 15% and closing up by 10.24% at 3.01 euros per share.

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EFA News - European Food Agency