VOL. XLI

No. 34

24-August-1998

MOROCCO

Credit Lyonnais Buys $34Mn Stake In Credit Du Maroc

France's Credit Lyonnais Global Banking (CLGB) purchased $34mn worth of shares inMorocco's Credit du Maroc on 7 August. The purchase of 650,378 shares at Dh507 ($52) pershare brings CLGB's total holding in the Moroccan bank to 4,252,104 shares, equivalent to51% of Credit du Maroc's total capital. The transaction was executed in theover-the-counter market and renders CLGB a major stakeholder.