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  • 2008/11/26
  • 3 min
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Crédit Agricole S.A. and Attijariwafa Bank announce agreement concerning changes to their respective investments in Morocco and Africa

 Crédit Agricole S.A. and Attijariwafa Bank today announce that they have signed an agreement concerning:

  •  The acquisition by Attijariwafa Bank of Crédit Agricole S.A.'s stake in its retail banking network in Africa - Crédit du Congo (81% stake), Société Ivoirienne de Banque (51% stake), Société Camerounaise de Banque (65% stake), Union Gabonaise de Banque (59% stake) and Crédit du Sénégal (95% stake) - for 250 million euros (MAD 2.8 billion);

 

  •  The acquisition by Crédit Agricole S.A. of an additional 24% stake held by Wafa Insurance in Crédit du Maroc for 144 million euros (iMAD 1.6 billion), thereby increasing its stake to 77%;

 

  •  The acquisition by Sofinco, a wholly-owned subsidiary of Crédit Agricole S.A., of a 15% stake in Wafasalaf, enabling Sofinco to increase its stake in the company to 49%, for 71 million euros (MAD 0.8 billion)...

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