Crédit Agricole SA plans to increase its stake in Banco BPM

The Board of Directors of Crédit Agricole SA has approved the application to the European Central Bank to cross the threshold of 20% of the capital of Banco BPM SpA. Currently, Crédit Agricole holds 19.8% of the shares of Banco BPM.

The objective of this approach is to acquire a sufficient number of shares to exceed this threshold, in order to exercise significant influence, while maintaining its role as a long-term shareholder. This acquisition will allow it to consolidate its stake through equity accounting.

Crédit Agricole has clarified that it does not plan to take control of Banco BPM, and will ensure that its stake remains below the mandatory public offer threshold.