Santander to Sell 30.5% Stake in Caceis Back to Credit Agricole

Foreks - Santander (BME:SAN) is preparing to return the asset servicing bank under the full control of the French credit institution by selling its 30.5% stake in Caceis to Credit Agricole. Following the approval-dependent transaction, which is expected to be completed in 2025, Credit Agricole will own 100% of the Caceis subsidiary. The banks combined their strengths in 2019 with a transaction that merged the custody and asset servicing operations under the name Caceis, bringing together Santander Securities Services' operations in Spain, Brazil, Mexico, and Colombia with Credit Agricole's Caceis. The French group retained 69.5% of the combined entity, while Santander owned the remaining 30.5%. The companies stated that the long-term partnership between Caceis and the Spanish bank will continue, but that the Latin American joint venture is not part of the transaction and will continue to be controlled by both institutions.