March 29, 2018 / 1:14 PM / 4 months ago

BRIEF-Banque Saudi Fransi Completes Sale Of 18.5 Pct Stake of AZSF

March 29 (Reuters) - BANQUE SAUDI FRANSI:

* COMPLETES SALE OF 18.5 PERCENT OF ALLIANZ SAUDI FRANSI COOPERATIVE INSURANCE CO(AZSF) SHARE CAPITAL TO ALLIANZ EUROPE BV AT PRICE OF 22 RIYAL PER SHARE

* BSF REALIZED A TOTAL GAIN OF 97 MILLION RIYALS FROM AZSF SHARE SALE‍​

* WITH COMPLETION OF THE TRANSACTION, BSF WILL CONTINUE TO HOLD 14 PERCENT OF SHARES IN AZSF AND WILL REMAIN A STRATEGIC PARTNER OF AZSF

* TRANSACTION WILL BE REFLECTED IN 1ST QUARTER 2018 FINANCIALS OF BSF Source text for Eikon: Further company coverage:

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