The proceeds will help strengthen Bank Audi group’s capitalisation and financial resilience
by Zainab Mansoor
January 21, 2021
Bank Audi and First Abu Dhabi Bank (FAB) have agreed for the latter to acquire 100 per cent of the share capital of Bank Audi sae, the former’s subsidiary in Egypt.
The acquisition was confirmed via a definitive agreement that followed a due diligence exercise conducted by FAB on Bank Audi Egypt after obtaining the preliminary approval of the Central Bank of Egypt. The transaction is expected to be concluded within the next few months, following the completion of customary conditions, including the receipt of regulatory approvals in the UAE and Egypt.
اراب فاينانس - أخبار - في ثاني صفقة من نوعها هذا الأسبوع: أبو ظبي الأول يستحوذ على عودة مصر arabfinance.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabfinance.com Daily Mail and Mail on Sunday newspapers.
وكالة أنباء الإمارات - أبوظبي الأول يوقّع اتّفاقيّة نهائيّة للاستحواذ على 100% من رأسمال بنك عوده مصر wam.ae - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wam.ae Daily Mail and Mail on Sunday newspapers.