PARIS (dpa-AFX) - French banking group Crédit Agricole SA (CDA.L) Wednesday announced that it has effectively sold the first tranche of 63.7 percent of its stake in Crédit du Maroc to the Moroccan group, Holmarcom.
The latest divestment was part of the agreement to sell its total 78.7 percent stake in Crédit du Maroc.
As per the deal, the company will sell the second tranche covering the remaining 15 percent to the Holmarcom group in 18 months.
For the transaction, Crédit Agricole said it has obtained the required regulatory approvals in line with the schedule announced in April 2022.
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