The French lender did not reveal the financial terms of the transaction; although, it said that the transaction is expected to conclude during June 2015, as reported by Reuters.
The news agency further said that initially this year the transaction was valued at 350m – 400m ($483m-$552m).
Remaining 50% stake of Crelan is held by a Belgian consortium, comprising agricultural cooperatives.
Managing Europabank, Crelan Insurance and Keytrade Bank in Belgium, Crelan serves approximately 1.2 million customers, operates more than 900 branches, and has almost 19bn in deposits.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData