Credit Agricole Completes Sale of 16.2% Stake in Banque Saudi Fransi

By Anthony Shevlin Features Dow Jones Newswires

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).

Continue Reading Below

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

(END) Dow Jones Newswires

September 20, 2017 12:59 ET (16:59 GMT)