Banque Fransi announces company shareholding structure

12/09/2017 12:28 AST

On 11 September 2017, Banque Saudi Fransi (the Bank) was informed by Credit Agricole S.A. that Credit Agricole Corporate & Investment Bank (CACIB) has reached a legally binding agreement with Kingdom Holding Company (KHC) for the sale of a 16.2% shareholding in the Bank to KHC at a price of SAR29.5 per share.

Completion of the transaction is still subject to regulatory approvals and is expected to occur during the second half of 2017. Following completion of the transaction, KHC and CACIB will hold respectively 16.2% and 14.9% of the share capital of the Bank.

CACIB may sell an additional equity stake of up to 5% in BSF through off-market block trade deals. CACIB will remain a strategic partner of Banque Saudi Fransi.

CACIB is committed to keeping a stake of at least 9.9% in BSF for a period ending one year after the closing of the transaction.

The Bank generated SAR6,400m net revenues in 2016 and as at year-end 2016 had total assets of SAR203,429m. Employees and customers of the Bank will not be affected by the transaction.


Tadawul

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