Morocco’s Credit Immobilier Buys 10% Insurer Stake

State-controlled lender Credit Immobilier et Hotelier buys 10% of insurer Atlanta for 68 dirhams/shr, Leconomiste.com reports.

* Bank buys stake from Rabat-based Caisse de Depot et de Gestion;
* Credit Immobilier plans 1b dirham bond issue to buy further shares in Atlanta, its first venture into insurance. Source: Bloomberg