France’s BPCE has acquired around 7% of Banco Sabadell, building a stake valued at approximately €1.19 billion at the market prices cited by Reuters. The actual purchase cost was not disclosed.
BPCE plans to become a long-term shareholder and seek board representation. The banks will also explore cooperation in corporate banking, consumer credit, equipment leasing and international business.
Watch Global Banking & Finance Review for more banking and financial news.
#BPCE #BancoSabadell #EuropeanBanking #BankingNews #ReutersNews #GlobalBankingAndFinanceReview
source
