Bloomberg News

Credit Mutuel Nord Europe to Buy Citibank Belgium’s Retail Unit

December 28, 2011

Dec. 28 (Bloomberg) -- Credit Mutuel Nord Europe Belgium SA agreed to buy Citigroup Inc.’s Belgian retail-banking activities for an undisclosed amount, according to an e-mailed statement.

The takeover also includes Citibank Belgium’s consumer- credit and credit-card businesses and will add about half a million customers for CMNE’s existing banking activities in Belgium, according to the statement. Societe Generale SA advised CMNE on the transaction.

To contact the editor responsible for this story: John Martens at jmartens1@bloomberg.net


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