First Abu Dhabi Bank renews interest in Bank Audi’s Egypt unit

EGYPT – First Abu Dhabi Bank (FAB) has renewed interest in acquiring the Egyptian business of Bank Audi, a leading Lebanese commercial bank. Reuters reported that FAB, the United Arab Emirates’ biggest lender, will have an internal meeting this week to decide on a way to resume negotiations and put in a final bid. Reuters further noted that a source privy to the transaction revealed that the Emirati financial giant planned to restart negotiations within two weeks. FAB put talks on hold in May due to difficult market conditions triggered…

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