Posts Tagged ‘Banque Indosuez Red Sea (Djibouti)’

Djibouti: Groupe BANK OF AFRICA (BOA) and Crédit Agricole SA today announced the conclusion of an agreement for the acquisition of Banque Indosuez Red Sea (Djibouti) by BANK OF AFRICA

(HornTrade) – The BANK OF AFRICA Group and Credit Agricole SA (“Credit Agricole”) announced today that they conclude an agreement on the acquisition by the BANK OF AFRICA capital of Banque Indosuez Red Sea (“BIMR”), the banking subsidiary of Credit Agricole in Djibouti. BANK OF AFRICA will subsequently enter Proparco and FMO BIMR  in the capital.

The completion of this transaction is subject to validation of financial authorities and regulatory authorities and may occur before the end of the fourth quarter of 2010. Read the rest of this entry »