--Credit Agricole is in advanced talks to buy Societe Generale-owned Hanseatic Bank in a potential deal that would value the German consumer-finance business at around 600 million euros ($649.8 million), Bloomberg reports, citing unnamed sources.
--The French lender is the most likely acquirer after other suitors turned away, though Societe Generale could keep the business if it can't get a price that it deems high enough, Bloomberg reports.
--Societe Generale owns 75% of Hanseatic Bank while the remaining 25% is owned by German retailer Otto Group.
--Credit Agricole and Societe Generale declined to comment when contacted by Dow Jones Newswires.
Full story: https://tinyurl.com/y6yzn4du
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
07-11-24 0636ET