Cairo – Mubasher: Pharos Holding said that Rolaco EGB Investment has purchased a 6.61% stake, or 20.5 million shares, in Credit Agricole.
The transaction valued at EGP 858.3 million, or EGP 41.87 per share, the bank highlighted in a statement to the Egyptian Exchange (EGX) on Monday.
In a separate statement, the lender said that that client Ali bin Hassan Dayekh has reduced his stake in the bank to 0.01% from 6.61%.
Credit Agricole previously posted a 12% year-on-year increase in consolidated profits for the first nine months of 2018, recording a net profit of EGP 1.67 million, versus EGP 1.49 billion.
