CREDIT AGRICOLE SA: Crédit Agricole S.A. announces the signing of an agreement to sell 78.7% of the capital of its subsidiary Crédit du Maroc to the Moroccan group, Holmarcom
27 April 2022 - 05:45PM
CREDIT AGRICOLE SA: Crédit Agricole S.A. announces the signing of
an agreement to sell 78.7% of the capital of its subsidiary Crédit
du Maroc to the Moroccan group, Holmarcom
Montrouge, 27 April 2022
Crédit Agricole S.A. announces the
signing of an agreement to sell 78.7% of the capital of its
subsidiary Crédit du Maroc to the
Moroccan group, Holmarcom
Crédit Agricole S.A. today announces it has
signed an agreement to sell its 78.7% stake in Crédit du Maroc to
the Moroccan group, Holmarcom.
This transaction will be subject to the
authorisation of the Moroccan authorities.
It will be carried out in two stages: a tranche
of 63.7% will be sold by the end of 2022, followed by a second
tranche covering the remaining 15%, 18 months after the closing of
the transaction.
During this transition phase, Crédit Agricole
S.A. will continue to support Crédit du Maroc to ensure the
continuity of its services and contribute to its full integration
within the Holmarcom Group.
Crédit Agricole S.A. plans to continue to
contribute to the development of Morocco, a country in which it
remains present through the entities Wafasalaf in consumer credit
and Wafa Gestion in asset management, in partnership with
Attijariwafa Bank.
The sale of the stake in Crédit du Maroc will
have a positive impact approximately of 10 bps on Crédit Agricole
S.A.’s CET1 ratio.
CRÉDIT AGRICOLE PRESS CONTACT
Charlotte de Chavagnac: + 33 1 57 72 11 17 -
charlotte.dechavagnac@credit-agricole-sa.frOlivier Tassain - 06 75
90 26 66 - olivier.tassain@credit-agricole-sa.fr
Read all our press releases at: www.credit-agricole.com -
www.creditagricole.info
- 2022 04 27 CP CASA_CDM (EN)
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