Credit Agricole Assurances and LCL (Le Credit Lyonnais) to acquire Milleis Group from Anacap Financial Partners.

Credit Agricole Assurances, a long-term investor in the renewable energy sector, and LCL (Le Credit Lyonnais), a major French banking network, agreed to acquire Milleis Group, a long-standing independent player in private banking and wealth management in France, from Anacap Financial Partners, a private equity fund investing in the European mid-market segment. Financial terms are not disclosed. This acquisition would enable LCL to strengthen its position in the French wealth management market and develop synergies. It would also provide Crédit Agricole Assurances with the opportunity to reinforce the positioning of its subsidiary Spirica in the high net worth segment and to broaden its distribution channels.