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BEA to start up leasing company with Portuguese and Swiss partners.

Summary: The External Bank of Algeria (BEA) is expected to ink in the next few days a shareholders agreement for the start-up of a leasing company in partnership with Portuguese banking group Banco Espirito Santo

The External Bank of Algeria (BEA) is expected to ink in the next few days a shareholders agreement for the start-up of a leasing company in partnership with Portuguese banking group Banco Espirito Santo (BES) and the Multinational Investment Fund Swicorp, its CEO, Mohamed Loukal told APS on Wednesday. Named "IJAR Leasing Algeria," the company will have a capital of 3.5 billion Algerian dinars to be held up to 59 percent by BEA, 35 percent by BES and 6 percent by Swicorp. The distribution of the company's share capital has been prepared in accordance with the new foreign investment measures that give the Algerian party a majority of no less than 51 percent in partnership investment projects.AaAaAa

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Publication:UMCI News (Potomac Falls, VA)
Date:Dec 10, 2009
Words:165
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