Financial and Banking News
Saudi European Bank Sold to Bouygues
The French construction group Bouygues has acquired control of theParis-based Saudi European Bank for an undisclosed sum. Saudi European wasestablished in 1980 and was indirectly owned by prominent Saudi personalities.The bank's last published results, for 1988, showed a FF105mn loss after loanloss provisions of FF107mn, on assets of FF2,569mn. The bank has beencontracting rapidly...