VOL. XL

No. 30

28-July-1997

MOROCCO

ARIG Buys Stake In CNIA

Arig Arab Insurance Group (ARIG), the big Gulf-based insurance company, announced on 24July that it had acquired the Moroccan Government's stake in Compagnie Nord Africaine etIntercontinentale d'Assurances (CNIA). ARIG acquired a 78.5% stake in cooperation with twoMoroccan firms, the mutual fund investment company Interfina and insurance companyAtlanta, and kept 67% for itself. ARIG has already acquired investments in insurance...