CACEIS to acquire KasBank for $214m.

Crédit Agricole's CACEIS, an asset service provider in the Netherlands, agreed to acquire KasBank, a portfolio management company for $214m. The Offer represents a premium of 110% over the closing price of KAS BANK on, 22 Feb. 2019 and 111% over the average volume weighted price for the 3 months prior to and including that date. “With the announcement today, we significantly upgrade our position in the Dutch market. In addition, CACEIS will further strengthen its expertise in servicing institutional investors such as pension funds and insurance companies, in order to distribute these services on a global basis. The combination is anticipated to create value for our shareholders and will broaden and deepen our offering in Europe. We are convinced that the Offer is in the interests of both companies’ stakeholders," Jean François Abadie, CACEIS CEO.