(Reuters) – Crédit Agricole announced on Monday the acquisition of a minority stake in the capital of the payment group Worldline, an investment which is part of the continuity of the strategic partnership between the two groups.
The second French bank in terms of market capitalization thus holds a 7% stake in Worldline.
“(…) This operation demonstrates the Crédit Agricole group’s desire to support the development of Worldline and enable it to implement its strategy as a leading European player in the payments market,” said the bank. in a press release.
Crédit Agricole and Worldline announced in 2023 the opening of exclusive negotiations with a view to creating a joint venture specializing in payment services for merchants in France.
The French bank also said that preparatory work for the creation of the joint venture between the two groups was proceeding according to the announced schedule, with an operational launch in 2024.
Worldline, for its part, welcomed Crédit Agricole’s acquisition of a stake in its capital, which demonstrates, according to the group, “a shared vision of the strategic evolution of the European payments market”.
Reuters reported last week that Worldline, which issued a profit warning in October and whose share price is at an all-time low, had sought advice from bankers on a defense strategy to reassure shareholders and avoid a hostile takeover.
(Written by Diana Mandiá)
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