First Abu Dhabi Bank fully acquires Bank Audi’s Egypt operations
Published 20 Jan,2021 via Daily News Egypt - Lebanon’s Bank Audi and First Abu Dhabi Bank (FAB) signed, on Wednesday, a definitive agreement for selling 100% of the share capital of Bank Audi’s subsidiary in Egypt to the FAB.
This agreement follows the completion of an in-depth due diligence exercise conducted by the FAB on Bank Audi Egypt after obtaining the preliminary approval of the Central Bank of Egypt (CBE).
The transaction is expected to be completed within the next few months, following the satisfaction of customary conditions, including the receipt of regulatory approvals in the UAE and Egypt. Any further updates with regards to the completion of the transaction shall be provided in due course.
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Daily News Egypt