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Aug 24 2005

Crédit Agricole of France Raises Stake in Morocco's Crédit du Maroc

The Moroccan financial group Attijariwafa Bank sold 10% of its Crédit du Maroc shares to France's Crédit Agricole. The transaction was worth MAD 374.96 million for 861,991 shares. The share price was MAD 435.

After the sale, Attijariwafa Bank retained 21.21% of Crédit du Maroc while Credit Agricole's now controls 61% of Credit du Maroc.

© The North Africa Journal 2005

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