Dubai bank ENBD to buy BNP Paribas' Egypt arm for $500 mln
DUBAI Dec 20 (Reuters) - Emirates NBD, Dubai's largest lender, has agreed to buy a 95.2 percent stake in BNP Paribas' Egyptian arm from the French bank in a deal which values the entire business at $500 million.
ENBD, part-owned by the Dubai government, will make an offer to minority shareholders for the remaining 4.8 percent stake, the Dubai bank said in a statement on Thursday.
The deal is expected to close by the end of the first quarter of 2013, pending regulatory approval.
- Washington, DC city council raises minimum wage to $11.50/hr in 2016
- India trims perks for U.S. staff in row over New York envoy arrest
- China confirms near miss with U.S. ship in South China Sea
- Mega Millions lottery winning tickets sold in California, Georgia |
- UPDATE 5-Mega Millions lottery winning tickets sold in California, Georgia -Officials