Natixis SA finalized the sale of its 15% stake in CACEIS SA to Crédit Agricole SA, bringing Crédit Agricole's stake in the company to 100%.
Natixis said the transaction, which is in line with the company's 2018-2020 strategic plan, is expected to have a positive impact of about 12 basis points on its common equity Tier 1 ratio as of Dec. 31. The company will recognize a €74 million pretax capital gain in its fourth-quarter financial statements.
Meanwhile, Crédit Agricole SA said the acquisition will be accretive to its earnings, as well as to those of Crédit Agricole Group, as of 2018. It is expected to have negative impacts of approximately negative 10 basis points and 5 basis points on the fully loaded CET1 ratios of Crédit Agricole SA and the Crédit Agricole Group, respectively.
CACEIS, the investor services division of Crédit Agricole, has approximately €2.6 trillion in assets under custody, €1.7 trillion in assets under administration and a presence in nine European countries.