First Abu Dhabi Bank confirms discussions to acquire Lebanon’s Bank Audi-Egypt
First Abu Dhabi Bank on Thursday (Jan 23) confirmed it is in discussions with Lebanon’s Bank Audi to acquire its fully-owned subsidiary in Egypt.
“At the current time, no valuations have been announced and there is no certainty that these discussions will result in a transaction, which is subject to regulatory approvals,” said the bank in a statement filed with the Abu Dhabi Exchange.
FAB said the discussions align with its strategy to pursue growth opportunities in the UAE and targeted markets.
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