First Abu Dhabi Bank announced the signing of a final agreement to acquire 100% of the capital of Bank Audi Lebanese in Egypt.
According to the bank's expectations, the completion of the acquisition will take place in the coming period, as stated in a release from the bank, after obtaining the necessary approvals from the banking and central banks, in addition to the required regulatory and supervisory authorities in the UAE and Egypt. According to estimates from global agency Reuters, the value of the deal is approximately 700 million US dollars.
