Frances market regulator today cleared the way for the merger of Credit Agricole and Credit Lyonnais in a 19 billion euro ($21 billion) deal. The Conseil des Marches Financiers approval was the final regulatory hurdle, and Credit Agricole is expected to make a formal bid for the company by Friday. The combined group will have assets of 330 billion euros.
The new structure of each companys divisions will be announced in June, a spokeswoman for Credit Agricole said. She declined to comment on any other expected changes.