Credit Agricole's unit Indosuez Wealth Management acquires Belgian bank Degroof Petercam, becoming majority shareholder.

Credit Agricole SA's unit Indosuez Wealth Management has finalized the acquisition of Belgian bank Degroof Petercam, becoming its majority shareholder alongside historical shareholder CLdN Cobelfret. The financial terms of the deal were not disclosed. The acquisition is expected to generate additional net income group share after synergies of 150 million to 200 million euros by 2028.