VOL. XLI

No. 35

31-August-1998

MOROCCO

Lyonnaise de Banques Sells Stake In BNDE

Morocco's bourse watchdog, the Conseil Deontologique des Valeurs Mobilieres (CDVM),announced on 21 August that the French bank Lyonnaise de Banques SA sold its 5% holding inthe Banque Nationale de Developement Economique (BNDE) on 31 July. Lyonnaise de Banquessold 610,677 shares at Dh170 ($17.5) each, for a total Dh104mn ($11mn), over the counterto the Royal Armed Forces social welfare fund which, according to...