Montrouge,
Crédit Agricole CIB announces the disposal of its remaining 4.0% stake in Banque Saudi Fransi
Crédit Agricole Corporate & Investment Bank (Crédit Agricole CIB) announces today the completion of the disposal of the 4.0% stake it still held in the capital of Banque Saudi Fransi (BSF) in respect to which all regulatory approvals have been obtained.
Two Saudi government related institutional investors acquired the stake held by Crédit Agricole CIB in BSF at a price of 30.00 Saudi Riyals (SAR) per share, for a total consideration of
This transaction will have a positive impact of around 5 basis points on the phased-in CET1 ratio of Crédit
BSF shares were accounted in Crédit Agricole CIB balance sheet as Financial assets at fair value through Other Comprehensive Income; thus the transaction will have no impact on P&L.
Speaking on Crédit Agricole’s commitment to
Crédit Agricole CIB and J.P. Morgan were joint financial advisors;
Find our press releases on: www.credit-agricole.com - www.creditagricole.info
Attachment
- 20200928 - CP CASA_BSF_UKvf
© OMX, source