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BPCE acquires a 50.1% interest in Oney Bank SA: long-term alliance signed today between Auchan Holding and BPCE

Following exclusive talks entered into on 12 February, Auchan Holding and BPCE have today signed a long-term partnership agreement that sees BPCE taking on a 50.1% interest in Oney Bank.

This follows a favourable opinion from the employee representation bodies at the companies involved.
Effective completion of the transaction is conditional on its approval by the competent authorities, and notably the relevant French and European bodies. As previously announced, it is earmarked for the second half of 2019.
Through this alliance, Oney Bank will be able to draw on the joint expertise of BPCE and Auchan Holding in order to plough ahead with its expansion and strengthen its status as a European leader in payment solutions, financing, digital profiling and insurance. The complementary fit between BPCE’s own solutions and locations and those of Oney Bank will enable the group BPCE to extend its scope of expertise in specialised financial services, particularly in payment solutions. Oney Bank currently operates in 11 countries. It employs 3,000 people, serves 7.6 million customers and works with 400 retailers and e-merchants