Ripplewood Advisors L.L.C. and Olayan Saudi Investment Company completed the acquisition of a 4.9% stake in Banque Saudi Fransi from Crédit Agricole Corporate and Investment Bank S.A.
April 28, 2019
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Ripplewood Advisors L.L.C. and Olayan Saudi Investment Company agreed to acquire a 4.9% stake in Banque Saudi Fransi (SASE:1050) from Crédit Agricole Corporate and Investment Bank S.A. for approximately SAR 1.9 billion on March 15, 2019. Under the terms, consideration for each share will be SAR 31.5. Ripplewood will acquire a 3% stake and Olayan will acquire 1.9% stake in Banque Saudi Fransi. As part of the sale, Ripplewood is also being granted the right to acquire, from Crédit Agricole CIB, an additional equity stake of 6% in BSF, such right being exercisable before end of December 2019, at a price of SAR 30 per share. Post completion of the transaction, Crédit Agricole Corporate and Investment Bank S.A. will own 10% stake in Banque Saudi Fransi. Assuming both sales are completed and Ripplewood exercises the right to acquire, from Crédit Agricole CIB, the additional equity stake of 6%, the disposal of the 10.9% stake in BSF will have a positive effect in excess of 15 basis points on the fully-loaded CET1 ratio of Crédit Agricole S.A. and of over 10 basis points on the fully-loaded CET1 ratio of Crédit Agricole Group. The transaction is subject to regulatory approvals and is expected to be completed within the next few weeks. J.P. Morgan acted as financial advisor to Crédit Agricole Corporate and Investment Bank S.A. Lazard acted as financial advisor to Ripplewood Holdings LLC. Marwan Elaraby of Shearman & Sterling advised in the transaction. Mathieu Remy, Benjamin Sibbett, Mathieu Remy, Camille Welfringer, Eric Davoudet, Omar El Arjoun, Sahel Mughal, Omar Rashid and Pierre-Benoît Pabot du Chatelard of Clifford Chance Paris and New York acted as legal advisors for Crédit Agricole Corporate and Investment Bank S.A.
Ripplewood Advisors L.L.C. and Olayan Saudi Investment Company completed the acquisition of a 4.9% stake in Banque Saudi Fransi (SASE:1050) from Crédit Agricole Corporate and Investment Bank S.A. on April 29, 2019. All regulatory approvals related to the transaction have been received. Crédit Agricole Corporate and Investment Bank S.A. acted as financial advisor, whereas Abuhimed Al-Sheikh Al-Hagbani Law Firm (AS&H) acted as legal advisor in the deal.
Banque Saudi Fransi SJSC is a Saudi Arabia-based commercial bank. It operates through the following business segments: Retail banking, which incorporates private and small establishment customersâ demand accounts, overdrafts, loans, saving accounts, deposits, credit and debit cards, consumer loans, a number of forex products and auto leasing; Corporate banking, which incorporates corporate and medium establishment customersâ demand accounts, deposits, overdrafts, loans and other credit facilities and derivative products; Treasury, which incorporates treasury services, trading activities, investment securities, money market, Bankâs funding operations and derivative products, as well as Investment banking and brokerage, which offers investment management services and asset management activities related to dealing, managing, arranging, advising and custody of securities, retail investments products, corporate finance and international and local shares brokerage services and insurance.
Ripplewood Advisors L.L.C. and Olayan Saudi Investment Company completed the acquisition of a 4.9% stake in Banque Saudi Fransi from Crédit Agricole Corporate and Investment Bank S.A.
BANQUE SAUDI FRANSI 
