De Pardieu Brocas Maffei has advisied Crédit Agricole Payment Services, a subsidiary of Crédit Agricole SA, on the signature of an agreement for the acquisition of a majority stake in Lixo Group, a leading fintech player in payment aggregation and initiation services in France.
When the transaction is complete, the Crédit Agricole Group will own more than 85% of Linxo Group. The acquisition will be led by Crédit Agricole Payment Services and by FIRECA (Fonds d’Investissement et de REcherche du Crédit Agricole), a long-standing partner of Linxo Group. The remaining capital will continue to be held by the directors and founders, who will be involved in the company’s development. The transaction is pending authorisation from the French Prudential Supervisory and Resolution Authority (ACPR).
The acquisition of this major banking aggregation player in France, a long-time partner of the Crédit Agricole Group, is an important part of our strategic aim of offering customers of the Group’s banks innovative payment services that meet the highest market standards.