Credit Agri­cole mulls Saudi bank stake sale

New Straits Times - - Business / World -

Credit Agri­cole SAis con­sid­er­ing a sale of its 31 per cent stake in Saudi Ara­bian lender Banque Saudi Fransi, in a deal that could po­ten­tially fetch about US$2.4 bil­lion (RM10.69 bil­lion), said peo­ple fa­mil­iar with the mat­ter. The bank is speak­ing to ad­vis­ers to find buy­ers, said the peo­ple. The stake may at­tract both in­ter­na­tional and re­gional lenders who are seek­ing an en­try into the king­dom, one per­son said. A for­mal process hasn’t started and the bank may still de­cide against the sale, said sources.

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