Credit Agricole Buys KBC Unit For €527M
Credit Agricole Belgium will acquire KBC’s Belgian bank unit, Centea.
Credit Agricole Belgium will acquire KBC’s Belgian bank unit, Centea, The Wall Street Journal reports. The Belgian financial services group will get €527 million from the sale of its business.
Econopolis, Deloitte, CMS DeBacker and AT Kearney advised Crédit Agricole, while KBC was advised by KBC Securities, Morgan Stanley, Eubelius and Linklaters, adds Reuters. KBC is required to sell assets in return for receiving state aid from the European Union.
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