Crédit Mutuel Arkéa

Canaccord Genuity's client Crédit Mutuel Arkéa ("Arkéa") , one of the leading French mutual retail banks, agreed the acquisition of Monext SAS, a leading provider of electronic transaction solutions to financial institutions and merchants in the French market, from private-equity firm Advent International ("Advent").

The transaction, subject to clearance from the French competition authorities, is expected to close by mid-January 2010.

Back in October 2008, Advent teamed up with Doc@post, a subsidiary of La Poste, in order to acquire Experian France's transaction processing activities for a gross consideration of €203mlion. Canaccord Genuity advised Doc@post on their acquisition of the BPO division, rebranded Extelia, whilst Advent took over the card processing business, rebranded Monext.

Monext SAS is expected to achieve sales of ca. €60mlion as of December 2009 with very high growth prospects.

Canaccord Genuity acted as sole financial advisor to Cr‚dit Mutuel Ark‚a.