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    La privatisation du Crédit Populaire d’Algérie (CPA) suspendue

    Algiers - Algeria was to launch an invitation to tender for the first-ever privatisation of a state owned bank, Credit Populaire d'Algerie, the minister in charge of privatisations announced.

    Before the year's end, the state will sell off 51 percent of its 100 percent holding in CPA, one of the five biggest banks in the country, Abdelhamid Temmar said in interviews carried by the national press.

    The operation, prepared with the help of the Rothschild investment bank, was expected to be completed by February.

    Several foreign houses were reported interested in taking a share in CPA capital, including the French banks Societe Generale, BNP Paribas and Credit Agricole, the British bank HSBC, Spain's Banco de Santander and the US Citibank.

    Temmar said a second bank, the Banque de Developpement Local, had likewise been earmarked for privatisation.

    But the three other big ones - BADR, Banque Nationale d'Algerie and Banque Exterieure d'Algerie - would remain in public ownership and were to be modernised.

    Credit Populaire d'Algerie, established in 1966, represents 12 percent of Algeria's banking sector, employing 4 700 staff.

    Algeria to privatise bank

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    French banking group BNP Paribas confirmed Wednesday (October 25th) that it will bid in the tender for the privatisation of Algeria Popular Credit (CPA) bank. BNP emerging markets division manager Jean Jack Santini commented the acquisition would support its ambitious strategy for expansion in North Africa and Turkey, stressing the bank wants to open around 650 branches in this region.

    The Finance Ministry will unveil the bids for CPA in February. CPA is the first Algerian bank to be slated for privatisation. The sale aims to increase efficiency in the Algerian banking system. Delegate minister in charge of financial reforms Karim Djoudi commented that Local Development Bank would probably be the second bank to be privatised in 2007.

    BNP to bid for Algeria's CPA bank

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    PARIS (AFX) - Six international banks have been short-listed to bid for a 51 pct stake in Credit Populaire d'Algerie, which is being sold by the Algerian government, a source close to the matter told Agence France Presse.

    France's BNP Paribas, Societe Generale and Credit Agricole are among the candidates, as is mutual bank Banque Populaire.

    Banco Santander Central Hispano SA, of Spain, and Citigroup, of the US, have also been short-listed, the source said.

    The government will keep a 49 pct stake in Credit Populaire, Algeria's fifth-largest bank with a network of 129 agencies across the country.

    BNP, SocGen, Credit Agricole short-listed for Algeria's Credit Populaire - source

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    Six international banks have been pre-qualified for purchasing 51% of the capital of Popular Credit of Algeria (CPA) after the examination of all bids, Algeria’s Minister for Financial Reform Karim Djoudi said Tuesday (December 19th). CPA privatisation is expected to be completed by March 2007. To qualify for the privatisation, CPA's future strategic partner should have at least 3 billion euros in capital and 400 branch networks. Industry analysts expect the deal to generate $1.5 billion in government revenues, as part of the government’s plan to modernise its aging banking sector and upgrade it to stimulate and finance growth.

    Six banks pre-qualify to bid for 51% in Algeria's CPA

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    (ASCA) - Milano, 15 feb - Il gruppo Bnp-Paribas guarda con molto interesse al processo di privatizzazione del settore bancario in corso in Algeria tanto che ''saremo candidati all'acquisizione del 51% del Credito Popolare di Algeria. Se possibile, lo faremo a tempo debito, altrimenti continueremo il nostro sviluppo organico in Algeria''. L'annuncio e' di Baudouin Prot, a.d. del gruppo francese, che questa mattina ha presentato a Parigi i risultati ottenuti nel 2006. Il manager ha percisato che ''Bnp-Paribas e' gia' presente in Algeria''. Soprattutto perche', ha concluso, ''si tratta di un Paese importante per la sua demografia e per la sua posizione in termini energetici''.

    Bnp-paribas: Prot, Candidati Ad Acquisire 51% Credito Popolare Algeria

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