By Giulia Petroni
Credit Agricole SA said Friday that its subsidiary Credit Agricole Assurances would acquire a further 25% stake in Portuguese insurance company GNB Seguros from Novo Banco, taking its ownership to 100%.
The French bank said the transaction includes a 22-year non-life insurance distribution agreement between Novo Banco and GNB Seguros for the distribution of GNB Seguros's policies in Portugal.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
10-09-20 0302ET