Credit Agricole Completes Sale of 16.2% Stake in Banque Saudi Fransi
20 Septembre 2017 - 7:14PM
Dow Jones News
By Anthony Shevlin
The banking group Credit Agricole SA (ACA.FR) said on Wednesday
that it has finalized the sale of a 16.2% stake in Banque Saudi
Fransi (1050.SA) to the Kingdom Holding Company (4280.SA).
The deal, originally announced at the beginning of last week, is
worth roughly 5.8 billion riyals ($1.55 billion) and Credit
Agricole will retain a 14.9% share of Banque Saudi Fransi.
The French company said that the deal will have a positive
impact of about 20 basis points on its fully loaded CET1 ratio.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
September 20, 2017 12:59 ET (16:59 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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