Moroccan lender BCP buys into I.Coast’s Atlantique

ABIDJAN, June 7 (Reuters) – Banque Centrale Populaire (BCP) , Morocco’s second biggest lender, will invest 1 billion euros ($1.26 billion) for a 50 percent stake in Ivory Coast’s Group Banque Atlantique, the two companies announced on Thursday.

“We are going to invest around 1 billion,” BCP’s CEO Rachid Agoumi told a press conference in Ivory Coast’s commercial capital, Abidjan. “That will allow us to be in seven countries in Africa. ($1 = 0.7960 euros)

(Reporting by Joe Bavier; Editing by Richard Valdmanis)

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Posted on June 7, 2012, in Business, Morocco News and tagged , , . Bookmark the permalink. Leave a comment.

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