VOL. XLV

No 23

10-June-2002

MOROCCO

Societe GeneraleBuys Controlling Share Of Morocco痴 Akdom

French banking group Societe Generale has agreed adeal with the Moroccan financial authorities to buy 44.42% of the Moroccanconsumer credit company Akdom for MD593.5mn ($52mn). Societe Generale has alsoundertaken to buy 8% of Akdom痴 capital on the Casablancastock exchange and has put aside $10mn to finance buying these shares, bringingtheir total holding in the company to 52.42% at a total cost of $62mn....