Review of Crédit Agricole and Worldline Joint Venture

Analysis Group was retained by French international banking group Credit Agricole and Worldline SA (Worldline), a French provider of merchant and transactional services, in connection with Credit Agricole’s intended acquisition of a minority stake in Worldline and the parties’ proposed joint venture. The European Commission reviewed the agreement and its likely effects on the French merchant services market as part of a Phase I investigation.

An Analysis Group team led by Managing Principal Antoine Chapsal and Principal Emmanuel Frot provided economic analysis to assess the competitive effects of the joint venture. Upon review, the European Commission granted the parties unconditional clearance to proceed with the acquisition and the merchant services joint venture.