Groupe Indosuez Wealth Management : Proposed acquisition of the Belgian bank Degroof Petercam

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Indosuez Wealth Management, a subsidiary of the Crédit Agricole group, announces an agreement with a view to acquiring a majority stake in Bank Degroof Petercam and a long-term partnership with CLdN, one of its core shareholders Brussels - Luxembourg, 4 August 2023 • Creation of a pan-European leader in wealth management with a broader value proposition • New shareholder structure for Degroof Petercam to ensure continuity • Continued growth based on Degroof Petercam's expertise, brands and solutions • Completion of transaction subject to relevant regulatory bodies approvals scheduled for 2024 Indosuez Wealth Management Group has signed an agreement to acquire a majority stake in Degroof Petercam, a leader in wealth management in Belgium and a reference investment house with an international presence and client base. The proposed acquisition is being carried out in partnership with the CLdN group, Degroof Petercam's core shareholder, which will retain a stake of around 20%, reflecting the desire to preserve its roots and domestic presence in Belgium, in line with the Crédit Agricole group's partnership culture. Degroof Petercam, a reference investment house Degroof Petercam, an independent family group whose origins go back more than 150 years, is a diversified bank with client assets totalling 71 billion euros. The group has attractive positions in Belgium, Luxembourg and France in private banking, and internationally in asset management, investment banking and asset services. Over the past few years, in line with its raison d'être of creating collective and responsible prosperity, the bank has strengthened its risk control and management procedures, particularly in terms of compliance, and has made major investments in its operating systems. Creating a pan-European leader for the benefit of clients The combination of Degroof Petercam and the Indosuez Wealth Management group would create a pan-European leader in wealth management, benefiting from global growth drivers and positioning itself as a consolidator of the sector in Europe. This project will provide clients with high value-added services thanks to the combined expertise and access to the Crédit Agricole group's international network and financing capabilities. Similarly, Degroof Petercam employees would have the opportunity to join a group with multiple areas of expertise, present in more than 46...

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