Crédit Agricole sells 63.7% stake in Crédit du Maroc to Holmarcom

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French banking group said that it effectively divested the first tranche of 63.7% of the stake it has in to Holmarcom, a Moroccan group.

As per the agreement, will offload the second tranche of the remainder 15% to the group in a time period of 18 months.

The deal occurred after having secured the necessary regulatory approvals in line with the schedule announced by in April 2022, as part of the agreement to divest its total stake of 78.7% in Crédit Maroc.

Crédit Agricole sells 63.7% stake in Crédit du Maroc to Holmarcom

sells 63.7% stake in to Holmarcom. Photo courtesy of CA SAfr/Wikimedia Commons.

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