Bahrain’s ABC says in preliminary talks to buy Blom Bank’s Egypt business

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