French bank increases stake in BBD

Caisse Nationale de Crédit Agricole (CNCA) of France has executed a stock purchase and shareholder agreement with Sociedad de Inversiones Norte-Sur SA of Chile for the acquisition of 600,000 shares of SINS in Chilean bank Banco de Desarrollo (BBD). The purchase represents 5.30 per cent of the capital stock of BBD. The transaction was closed on November 16.