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.
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(END) Dow Jones Newswires