Morocco Insurer AAM Raises Stake In BCM Bank
Moroccan insurance firm AXA Assurance Maroc (AAM) has raised its stake in Banque Commerciale du Maroc (BCM) to 7.95% in a MD310.5mn ($29.4mn) deal. According to Conseil Deontologique des Valeurs Mobilieres (CDVM), the Casablanca exchange authority, AAM bought 343,124 BCM shares at MD905 ($85.5) per share, with the transaction taking place on 28 June. AAM now holds over 1.0mn BCM shares, according to CDVM. BCM bank...