Bank sale advances

25 October 2007
Banks have completed due diligence on Credit Populaire d'Algerie in the lead-up to the sale of a 51 per cent stake in the state-owned bank, the first to be privatised in the country.

The bidders, Banco Santander, Banque Populaire Group, BNP Paribas, Credit Agricole, Citigroup and Societe Generale, are now expected to submit their offers in October. Rothschild is the financial adviser (MEED 6:7:07).

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