Credit Agricole Trims Stake In Spain's Struggling Bankinter

Law360, New York (January 24, 2013, 6:04 PM EST) -- French bank Credit Agricole SA will scale back its ownership of Spain's Bankinter SA to 9.9 percent in a partial stake sale to a group of institutional investors, it said Thursday, continuing its move away from southern European markets rocked by economic crises.

In the sale, Credit Agricole — one of the world's largest retail banking groups — will hand over 29.3 million shares, amounting to a 5.2 percent interest, in the Spanish Bank. The French bank did not outline financial terms of the transaction, except...
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