By Pietro Lombardi

Credit Agricole SA has sold its remaining stake of 4% in Banque Saudi Fransi for around 332 million euros ($386.2 million).

The French bank said Monday that the deal, for which all regulatory approvals have been granted, will boost its core tier 1 ratio by 5 basis points.

The 4% stake was acquired by two institutional investors related to the Saudi government.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

(END) Dow Jones Newswires

September 28, 2020 08:58 ET (12:58 GMT)

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