Global law firm White & Case LLP has advised Crédit Mutuel Arkéa on its exclusive negotiations to acquire through Keytrade Bank, the Belgian branch of Arkea Direct Bank, the client portfolio of investment products and pensions saving funds from the Belgian branch of Dutch credit institution Coöperatieve Rabobank U.A.
"Having successfully advised Crédit Mutuel Arkéa on its acquisition of Keytrade Bank in 2015, we have continued to build a strong relationship with our client and have now supported them on this important strategic acquisition," said Brussels-based White & Case partner Thierry Bosly, who led the Firm's deal team.
Crédit Mutuel Arkéa and Coöperatieve Rabobank signed an asset purchase agreement in relation to the transfer of the client portfolio. The transaction is expected to close during the final quarter of 2017.
Crédit Mutuel Arkéa has developed significant expertise in online banking services, and has already reinforced its presence in Belgian online banking services through the 2015 acquisition of Keytrade Bank and of the Belgian operations of PSA Bank, the leader in online trading in Belgium. The acquisition of Rabobank's client portfolio of investment products and pension savings funds will allow Crédit Mutuel Arkéa to increase its financial products and services offering in Belgium.
The White & Case team in Brussels which advised on the transaction was led by partner Thierry Bosly with support from counsel Willem Van de Wiele and associate Camille Deveseleer.
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