PARIS (dpa-AFX) - Crédit Agricole Consumer Finance said the company is investing in Cosmobilis, the holding company of ByMyCAR, the French car distribution group in Europe. CA Consumer Finance will be subscribing to 100% of Cosmobilis' capital increase, for an amount of 100 million euros, with the help of IDIA Capital Investissement, a unit of the Crédit Agricole Group.
Also, CA Consumer Finance and Cosmobilis are entering into exclusive talks to create a pan-European joint venture for automotive financing activities. The operational launch of the joint venture should take place in the first half of 2023, the companies noted.
Copyright RTT News/dpa-AFX