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Crédit Agricole signed an agreement to sell a 4.9% stake in Banque Saudi Fransi at a price of 31.50 riyals per share, or 1.86 billion riyals (440 million euros). ; euros).
The bank said in a statement it had signed an agreement with a consortium led by Ripplewood, stating that a 3% stake would be sold to Ram Holding, the investment arm of Ripplewood, and that a 1.9% would be sold to Saudi Olayan Investment Company.
He indicated that Ripplewood is entitled to acquire an additional 6% stake in Crédit Agricole's stake in Banque Saudi Fransi by the end of December at a price of SR 30 per share, or 2.17 billion RS.
According to the data available "Numbers"Banque Saudi Fransi is 14.91% owned by Crédit Agricole and 16.19% by Kingdom Holding, while the General Insurance Organization holds 13.29% and Rashid Al Abdul Rahman Al Rashed & Sons in 9.83%.
KHC signed an agreement with Crédit Agricole Corporate and Investment in September 2017 on the acquisition of 195.27 million shares of Banque Saudi Fransi, representing 16.2% of the capital of BSF, at a price of 29 , 5 SAR per share for a total of 5.76 billion RS.
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