Crédit Agricole Consumer Finance takes a stake in ByMyCAR

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(AOF) – Crédit Agricole Consumer Finance has affirmed its strategic ambition to develop automobile financing and encourage new forms of mobility, in accordance with the Crédit Agricole Group project. In this context, it invests 100 million euros in the capital of Cosmobilis, the holding company of ByMyCAR, the leading French automobile distribution group in Europe, which is developing in new forms of mobility.

At the same time, the two partners are entering into exclusive negotiations to create a pan-European joint venture for automobile financing activities.

“Our project with Cosmobilis will allow us to strengthen our positions in the mobility market and will benefit from the expertise and tools of the European leader in automobile financing that we plan to create with the takeover of 100% of FCA Bank”, declared Stéphane Priami, Deputy CEO of Crédit Agricole SA and CEO of CA Consumer Finance.

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