Algiers approves Credit Populaire privatisation
Algiers has agreed to the first privatisation of a state-owned bank. Approval was granted in mid-September for the sale of a 51 per cent stake in Credit Populaire dAlgerie (CPA), the countrys third largest bank. The decision follows the submission of recommendations by financial adviser Rothschild earlier in the year. The sale is expected to raise up to $1,500 million (MEED 28:7:06).
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