Milan, Nov 29: Banca Intesa, Italy`s leading bank, said it had accepted an offer from French bank Credit Agricole to acquire its banking activities in Uruguay for a symbolic one dollar. The French group`s Uruguayan subsidiary Banco Acac Credit Agricole will buy the businesses held by Banca Intesa subsidiary Sudameris, the Italian bank said in a statement.
The French bank is Banca Intesa`s principal shareholder, with a stake of 15 percent.
Banca Intesa said it would take a charge of 30 million Euros for the operation, a provision already included in its accounts for the first nine months of 2003.
Bureau Report