La Banque Postale completed the acquisition of La Financière de l'Échiquier from Groupe Primonial.

La Banque Postale, a French postal bank, completed the acquisition of La Financière de l'Échiquier, an independent asset management company, from Groupe Primonial, a European real estate asset management firm. Financial terms were not disclosed. "The acquisition of La Financière de l’Échiquier would be a growth accelerator for LBP AM, which would strengthen its activities by integrating recognized teams. With this transaction, LBP AM would reach to the podium of multi-specialist conviction managers in Europe and give itself the ability to address a wider range of clients, thanks to the complementarities of its sales forces. La Banque Postale Group thus confirms its desire to develop both its asset management and international activities," Philippe Heim, La Banque Postale Chairman of the Executive Board.