By Mauro Orru

Credit Agricole SA's (ACA.FR) said Tuesday that it would acquire a majority stake in fintech company Linxo Group.

The French bank didn't disclose financial details, but said it would own more than 85% in Linxo Group following the transaction.

Linxo Group specializes in bank data aggregation and payment initiation.

Credit Agricole said the transaction is awaiting the green light from the French Prudential Supervisory and Resolution Authority.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

January 28, 2020 02:27 ET (07:27 GMT)

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