Crédit Agricole: completes divestment of 4% of BSF
(CercleFinance.com) - Crédit Agricole Corporate & Investment Bank (Crédit Agricole CIB) has announced that it has completed the sale of its remaining 4% stake in Banque Saudi Fransi (BSF), for which all regulatory approvals have been obtained.
Two institutional investors linked to the Saudi government acquired Crédit Agricole CIB's stake in BSF at a price of 30 Saudi riyals (SAR) per share, for a total consideration of SAR 1,450 million, i.e. approximately 332 million euros.
Commenting on Crédit Agricole's involvement in Saudi Arabia, Jacques Ripoll, Chief Executive Officer of Crédit Agricole CIB, said that the bank had begun a process to apply for a license to operate in the Saudi capital markets.
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Two institutional investors linked to the Saudi government acquired Crédit Agricole CIB's stake in BSF at a price of 30 Saudi riyals (SAR) per share, for a total consideration of SAR 1,450 million, i.e. approximately 332 million euros.
Commenting on Crédit Agricole's involvement in Saudi Arabia, Jacques Ripoll, Chief Executive Officer of Crédit Agricole CIB, said that the bank had begun a process to apply for a license to operate in the Saudi capital markets.
Copyright (c) 2020 CercleFinance.com. All rights reserved.