Credit Agricole buys 14.99 pct of Bankinter for 809 mln eur |
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Published
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Mon, 19 Nov 2007 08:40
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PARIS (Thomson Financial) - Credit Agricole said it has agreed to buy 14.99 pct of Bankinter from a group of investors in the Spanish bank for 809 mln eur. The purchase raises Credit Agricole's stake to 19.53 pct.The investors are represented by Bankinter SA's second largest shareholder Ramchand Bhavnani.The price of 13.6 eur per share values Bankinter at 5.4 bln eur.The acquisition will be financed through Credit Agricole's own resources and was conducted independently of any other Bankinter shareholders.The move is aimed at developing further its position in the Spanish and European markets.tfn.paris@thomson.commjs/nesCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Bankinter sees margin expansion in 2008; no end-2007 net profit 'surprises' 