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.
- U.S. nurse defies Maine's Ebola quarantine, takes bike ride |
- Clashes erupt as Israeli police kill Palestinian suspected of shooting Jewish far-rightist
- Apple's Cook: 'I'm proud to be gay'
- SoftBank's humanoid robot lands job as Nescafe salesman
- Ukraine, Russia, EU likely to agree gas supply deal on Thursday: officials