Bahrain’s ABC says in preliminary talks to buy Blom Bank’s Egypt business
- Date: 08-Sep-2020
- Source: Ahram
- Sector:Financial Services
- Country:Bahrain
Bahrain’s ABC says in preliminary talks to buy Blom Bank’s Egypt business
Blom has hired CI Capital to advise on a sale that could fetch $250 million to $300 million as the Lebanese lender tries to boost its capital, Reuters reported last month
Reuters
, Tuesday 8 Sep 2020
File Photo: People are seen in front of Blom bank in the Fifth Settlement districts of New Cairo March 30, 2013. (Photo: Reuters)
Bahrain's Bank ABC said on Tuesday it was in preliminary talks to buy Blom Bank's Egyptian subsidiary, pitting it against Dubai's Emirates NBD, which is also a potential bidder.
Blom has hired CI Capital to advise on a sale that could fetch $250 million to $300 million as the Lebanese lender tries to boost its