Indosuez Wealth Management has completed the acquisition of the Belgian investment firm Degroof Petercam in which the wealth management subsidiary of the Crédit Agricole Group now controls 65% of the capital, while CLdN Cobelfret, the entity’s historical shareholder, owns close to twenty%. Following the completion of the transaction, announced in August 2023, Indosuez has filed a file with the Belgian Financial Services and Markets Authority (FSMA) with the intention of launching a voluntary takeover bid to the minority shareholders of Banque Degroof Petercam in the same terms and conditions than those of the proposal completed this Monday. Specifically, the offer will be directed to 11.247% of the capital of the Belgian firm at a fixed price per share of 137.67 euros, which may be increased with add-ons by up to 14.48 euros, up to a final maximum price of 152.15 euros. which would raise the payment to around 185 million. The French entity estimates that the impact on Crédit Agricole’s CET1 capital ratio will be around 30 points at the end of the operation, while it expects that it will generate a net result attributable to the additional group after synergies of between 150 and 200 million euros by 2028. With around 200 billion euros of client assets, a net banking product of around 1.6 billion euros and 4,500 employees, the entity that emerged from the merger will form a European leader in wealth management. “This acquisition is a transformative and exciting project that changes our dimension and gives rise to a European leader in wealth management,” said Jacques Prost, CEO of the Indosuez group, for whom the transaction allows us to generate important synergies with the different activities of the Crédit Agricole group. On his side, Hugo Lasat, CEO of Degroof Petercam, highlighted that the merger “generates great perspectives and opportunities for both clients and employees.”
 acquires 65% of Degroof Petercam){kind=link}