FAB

First Abu Dhabi Bank resumes exclusive talks to buy Bank Audi Egypt

DUBAI, Oct 28 (Reuters) - First Abu Dhabi Bank FAB.AD (FAB), the largest bank in the United Arab Emirates, has resumed exclusive talks with Lebanon's Bank Audi AUDI.BY to acquire its Egyptian business, FAB said on Wednesday.

"These discussions are subject to a confirmatory due diligence exercise, definitive transaction agreements and the necessary regulatory approvals," FAB said in a statement.

Sources told Reuters last month that FAB planned to restart talks to buy Bank Audi Egypt after they were put on hold in May because of the COVID-19 pandemic.

(Reporting by Yousef Saba Editing by David Goodman )

((Yousef.Saba@thomsonreuters.com; +971562166204))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.