Thursday 19, October 2017 by

BSF announces the latest developments regarding the change in ownership of the Bank's capital

According to a report on Tadawul, Banque Saudi Fransi has received a notification from Credit Agricole Corporate and Investment Company confirming the completion of the sale transaction on 20 October 2017, where 16.2 per cent of the share capital of Banque Saudi Fransi was sold to Kingdom Holding Company after obtaining the necessary regulatory approvals.

This follows Banque Saudi Fransi's announcement on 12 October 2017, stating that a notification was received from Credit Agricole Corporation and Investment for reaching a binding agreement to sell a 16.2 per cent stake to the Kingdom Holding Company with a value of 29.5 per cent SAR per share. The sale was made on the same terms as previously announced and will have no impact either on the Bank's employees or clients.