Announced
Completed
Financials
Tags
Private
Completed
financial services
banking
Banks
Saudi Arabia
Private Equity
Single Bidder
Acquisition
Friendly
Minority
Synopsis
Private equity firms Ripplewood and Olayan Saudi Investment completed the acquisition of a 10.9% stake in Banque Saudi Fransi, a banking company from Credit Agricole, for $484m. "Crédit Agricole CIB remains highly confident in Saudi Arabia’s economic perspectives, in the wake of Vision 2030, and plans to further develop its direct presence and extend its activities in the country," Jacques Ripoll, Crédit Agricole CIB Chief Executive Officer.
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