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

By Anthony ShevlinFeaturesDow 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).

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.

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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)