BMCI sells its stake in Arval Maroc to Arval Service Lease

The Moroccan Bank for Commerce and Industry (BMCI) signed an agreement last Monday to sell its entire stake in Arval Maroc to Arval Service Lease.

The transaction involves 33.33% of the share capital and voting rights of Arval Maroc, which is recorded in BMCI’s consolidated financial statements using the equity method, BMCI stated in a release published on the website of the Moroccan Capital Market Authority (AMMC).

According to the same source, the transaction will not have any significant impact on BMCI’s accounts.