By Cristina Roca 
 

Credit Agricole SA (ACA.FR) said Thursday that Banque des Territoires and Groupe Groupama have agreed to enter the capital of its renewable-energy investment subsidiary Predica Energies Durables.

Once the transaction is complete, Banque des Territoires and Groupama will hold 22% and 18% of PED respectively, while the French bank will hold the remaining 60%.

PED, a subsidiary of the bank's insurance arm, is an investment vehicle focused on renewable energy production assets, and was founded in partnership with France's Engie SA (ENGI.FR).

The entry of these two new investors in PED's capital will increase its capacity to invest, Credit Agricole said.

The transaction is expected to close by December this year.

 

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

 

(END) Dow Jones Newswires

September 19, 2019 04:58 ET (08:58 GMT)

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