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FAB to acquire 100% of Bank Audi Egypt’s share capital

This agreement follows the completion of an in-depth due diligence exercise conducted by FAB on Bank Audi sae (Egypt),
24.01.21 | Source: GDN online

First Abu Dhabi Bank (FAB) and Bank Audi sal have announced the signing of a definitive agreement for the acquisition by FAB of 100% of the share capital of Bank Audi sae, Bank Audi’s subsidiary in Egypt, a media report said.

This agreement follows the completion of an in-depth due diligence exercise conducted by FAB on Bank Audi sae (Egypt) after obtaining the preliminary approval of the Central Bank of Egypt, reported Emirates News Agency WAM.

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.

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