Credit Agricole Is Said to Be in Talks to Invest in Guangzhou Auto Unit
Credit Agricole SA is in advanced talks to invest in Guangzhou Automobile Group Co.’s financial leasing unit, people familiar with the matter said, as it seeks to tap into China’s electric-vehicle market, the biggest in the world.
The French lender’s consumer finance unit — Credit Agricole Personal Finance & Mobility — plans to buy about 50% of GAC’s leasing unit via a capital increase, the people said, asking not to be identified because the talks are private.