Caixabank Eyes BNP Cetelem Unit
Spanish lender Caixabank has reportedly hired Morgan Stanley to evaluate a potential bid for BNP Paribas consumer lending unit Cetelem in Spain and Portugal. The deal is valued between 900 million and 1 billion euros as BNP refocuses its strategy.
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CAIXABANK SA has hired MORGAN STANLEY to evaluate a potential acquisition of Cetelem's consumer lending business in Spain and Portugal, valued at up to €1B. The deal would expand the domestic leader's footprint in higher-margin retail credit during a market recovery. The potential transaction follows a strategic review initiated by BNP PARIBAS.
