The French banking group has become a strategic shareholder in Spain's fourth-largest bank and will explore cooperation across investment banking, leasing, consumer credit and cross-border client services.
French banking group BPCE has acquired a stake equivalent to around seven percent of Banco Sabadell’s share capital through market purchases and financial instruments, according to a joint announcement. The investment was consistent with the group’s Vision 2030 strategy BPCE said it intends to remain a long-term shareholder and seek representation on the Spanish lender’s board. It does not intend to increase its holding above 9.9% and will engage with Spanish a