Crédit Agricole to buy 60 million shares in Egypt unit – Bloomberg

French bank Crédit Agricole plans to purchase 60 million shares of its unit in Egypt at 6.23 or 7 Egyptian pounds ($0.32-$0.36) apiece, Bloomberg Al-Sharq reported on Wednesday.

Crédit Agricole has picked EFG Hermes to advise on the transaction, the agency added.

Crédit Agricole Egypt reported a 32.3 percent year-on-year growth in profits for the first half of the year, standalone indicators showed earlier in August. Profits reached 1.015 billion pounds in the January-June 2022 period from 767.09 million pounds in the same period in 2021.