Indosuez Wealth Management, a subsidiary of the Crédit Agricole group, announces an agreement with a view to acquiring a majority stake in Bank Degroof Petercam and a long-term partnership with CLdN, one of its core shareholders - Seite 2

Thanks to this agreement, carried out in a spirit of shareholder continuity with a reference shareholder CLdN, the Indosuez Wealth Management group would gain access to a new client base in Belgium and internationally. It would expand its expertise in financial management advice and fund offerings, particularly ESG funds, by capitalising on the expertise of the Degroof Petercam Asset Management (DPAM) company and in investment banking activities.

This project would also enable the Crédit Agricole Group to significantly strengthen its presence in Belgium and to expect significant synergies with its various entities.

Jacques Prost, Chief Executive Officer of Indosuez Wealth Management, commented: "We are delighted to have reached this agreement with the shareholders of Degroof Petercam, a long-standing leader in wealth management. This proposed alliance will be an important step in our development in Europe, in line with our strategic plan, and will make Belgium our second domestic market. We look forward to working with the Degroof Petercam team. "

Hugo Lasat, CEO of Degroof Petercam, also commented on the transaction: "I would like to pay tribute to our talented teams, whose efforts have helped to make our company one of the leaders in our respective activities with an international footprint. The proposed alliance with Indosuez Wealth Management will provide us with a stable shareholder, backed by a leading global player. It is also a solid strategic partner who will support the Degroof Petercam brand and who knows our activities inside out. This project will enable us to benefit from the strength of an organisation such as the Indosuez Group, while retaining our agility and entrepreneurial spirit in the interests of our clients. "

Christian Cigrang, Chairman of the Board of Directors of the group CLdN commented: “CLdN, which became a shareholder of Degroof Petercam in 2011, brings its stake up to around 20%. This increase is to be seen in light of the signing of the agreement with Indosuez Wealth Management which, as a controlling shareholder, will offer new prospects for Degroof Petercam’s clients and staff members. CLdN is convinced that Indosuez - as part of Crédit Agricole group which boasts a long tradition of cooperation with local partners - endorses a corporate culture that respects the local identity and anchoring in the markets in which it operates. This evolution will strengthen Degroof Petercam’s resources and clout to further serve its clients and their specific needs.”