Alwaleed Buys Credit Agricole's $1.5 Billion Saudi Fransi Stake - Bloomberg:
"Saudi Prince Alwaleed bin Talal’s Kingdom Holding signed an agreement to buy a 16.2 percent stake in Banque Saudi Fransi from Credit Agricole SA, in a deal valued at $1.54 billion.
Kingdom plans to buy 195.27 million shares at 29.5 riyals a share ($7.87), according to a statement on the local stock exchange Tuesday. The deal is expected to close in the second half.
Credit Agricole was considering a sale of its 31 percent stake in the Saudi Arabian lender, in a deal that could potentially fetch about $2.4 billion, people familiar with the matter said in March."
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