International (for 10%, SACAM originally an acronym of "Société Coopérative Auxiliaire du Credit Agricole Mutuel", an auxiliary company for Crédit Agricole regional banks), partnered with Fondazione Cariparma (for 15%), acquired the entire share capital of Cariparma for €3.8 billion. At the same time, Crédit Agricole also acquired Banca Popolare FriulAdria for €836.5 million from Intesa Sanpaolo, with 23.95% shares remain held by other shareholders, as well as 202 former Banca Intesa branches for €1.3 billion. After the sales, Cariparma immediately acquired Banca Popolare FriulAdria as its subsidiaries, as well as 173 of 202 of the aforementioned branches, and the remaining 29 branches were transferred to Banca Popolare FriulAdria. After a complex deal, Cariparma acted as an intermediate holding company and head of Italian retail division of Crédit Agricole Group, which owned 78.68% stake of FriulAdria. At that time Cariparma also owned 49.99% stake of life insurance company Po Vita, which was renamed to Crédit Agricole Vita after sister company acquired the 50.01% stake in 2008 from Fondiaria-Sai. Despite acted as the second largest shareholder of Intesa Sanpaolo by 5.8% voting rights on 31 December 2009, Crédit Agricole listed the bank as disposable asset, at the same time, the two banking group agreed to transfer some branches to Crédit Agricole, which under the ownership of Cariparma in 2010 or 2011. In 2011 the transaction was completed, which Cariparma acquired Carispezia, as well as 96 branches directly from Intesa Sanpaolo Group (11 from Banca CR Firenze to Cariparma directly; 70 of remaining 85 branches from Intesa Sanpaolo to Cariparma directly and 15 to FriulAdria), for €740 million. At the same time in the first half of 2010, Crédit Agricole reduced the share holding on Intesa Sanpaolo to 4.79% of the total share capital (4.99% voting rights). Crédit Agricole finally sold all the shares on Intesa Sanpaolo in 2012, which Cariparma became the major arm of the group participation in Italy. In April 2012 Crédit Agricole Assurances S.A. bought the remain 49.99% share capital of Crédit Agricole Vita (CA Vita) from Cariparma for €175 million. The net asset value of 49.99% stake of CA Vita at 31 December 2011 was approx. €75.8 million (€88.9 million in 2010). In September 2014 Crédit Agricole S.A. acquired a further 1.5% stake (13,151,424 number of shares) in Cariparma from the banking foundation for €80 million. The net asset value of 1.5% stake of Cariparma Group at 30