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Article: BNP lines up for Banque du Sud acquisition.(BNP Paribas S.A.)(Brief Article)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- June 17, 2005
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BNP Paribas is understood to be the frontrunner for the acquisition of a strategic stake in Banque du Sud, with up to five other banks interested in the 33.5 per cent holding. BNP is undertaking due diligence. It is also seeking guarantees that it will be able to take a majority stake in the company--negotiations are under way for the French bank's simultaneous acquisition of the 17 per cent interest held by a consortium of local investors.
Calyon and Banque Internationale Arabe de Tunisie (BIAT) also entered the data room in June, and a consortium of Morocco's Attijari Wafabank and Banco Santander Central Hispano is expected to do so by the end of the month. ...