Crédit Agricole Group Demonstrates Commitment to Worldline’s European Expansion

Crédit Agricole Group Demonstrates Commitment to Worldline’s European Expansion

(IN BRIEF) Crédit Agricole S.A. has acquired a 7% minority stake in Worldline S.A. as part of their strategic partnership to strengthen their presence in the French merchant payment services market. This investment reaffirms Crédit Agricole Group’s commitment to supporting Worldline’s growth and development as a key European payment services provider. The joint-venture between Crédit Agricole Group and Worldline, announced in July 2023, is progressing according to schedule, with operational launch planned in 2024, pending regulatory approvals. The transaction is expected to have a minimal impact on Crédit Agricole S.A.’s CET1 ratio.

(PRESS RELEASE) MONTROUGE, 22-Jan-2024 — /EuropaWire/ — Credit Agricole Group (EPA: ACA), the world’s largest cooperative financial institution and France’s 2nd largest bank, is pleased to announce a significant milestone in its strategic collaboration with Worldline S.A. through the acquisition of a 7% minority interest in the renowned payment services provider.

This move builds upon the strategic partnership that Crédit Agricole Group and Worldline initiated, with the formal agreement announced in July 2023. The acquisition of this minority stake underscores the commitment of Crédit Agricole Group to further fortify this partnership, with the shared goal of becoming a prominent player in the dynamic French merchant payment services market.

In addition to enhancing their strategic alliance, this transaction reflects the steadfast intention of Crédit Agricole Group to actively support Worldline in the pursuit of its strategy as a leading European payment services provider. Worldline boasts a robust franchise, cutting-edge technologies, and a proven track record in innovation, all of which are dedicated to delivering superior services to their valued customers.

The preparatory work for the creation of the joint-venture, previously announced by Crédit Agricole Group and Worldline, continues to progress as scheduled. The operational launch of this joint-venture is anticipated in 2024, subject to the customary regulatory approvals required for such initiatives.

Crédit Agricole S.A. is committed to maintaining its status as a long-term minority shareholder, standing in strong partnership with Worldline throughout their shared journey of growth and development.

The financial impact of this transaction is expected to be minimal, with an estimated effect of less than 10 basis points on the CET1 ratio of Crédit Agricole S.A.

This strategic move reaffirms Crédit Agricole Group’s dedication to fostering innovation, excellence, and customer-centric solutions in the evolving landscape of payment services. It solidifies their commitment to working hand-in-hand with Worldline to provide cutting-edge payment solutions and elevate the overall industry standards.

PRESS CONTACTS CRÉDIT AGRICOLE S.A.

Alexandre Barat +33 1 57 72 12 19 alexandre.barat@credit-agricole-sa.fr
Olivier Tassain +33 1 43 23 25 41 olivier.tassain@credit-agricole-sa.fr

INVESTOR RELATIONS CONTACTS CREDIT AGRICOLE S.A.

Institutional Investors + 33 1 43 23 04 31 investor.relations@credit-agricole-sa.fr
Individual Shareholders + 33 800 000 777 relation@actionnaires.credit-agricole.com
Cécile Mouton + 33 1 57 72 86 79 cecile.mouton@credit-agricole-sa.fr

SOURCE: Crédit Agricole S.A.