Two Investors Enter Capital of Credit Agricole's Renewable-Energy Investment Vehicle
19 Settembre 2019 - 11:13AM
Dow Jones News
By Cristina Roca
Credit Agricole SA (ACA.FR) said Thursday that Banque des
Territoires and Groupe Groupama have agreed to enter the capital of
its renewable-energy investment subsidiary Predica Energies
Durables.
Once the transaction is complete, Banque des Territoires and
Groupama will hold 22% and 18% of PED respectively, while the
French bank will hold the remaining 60%.
PED, a subsidiary of the bank's insurance arm, is an investment
vehicle focused on renewable energy production assets, and was
founded in partnership with France's Engie SA (ENGI.FR).
The entry of these two new investors in PED's capital will
increase its capacity to invest, Credit Agricole said.
The transaction is expected to close by December this year.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
September 19, 2019 04:58 ET (08:58 GMT)
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