Google+ Followers

Monday, 5 December 2016

Jordan investors set to buy Arab Bank stake after Saudi bid fades | Reuters

Jordan investors set to buy Arab Bank stake after Saudi bid fades | Reuters:
"A Jordanian consortium has bid for Saudi Oger's 20 percent stake in Arab Bank Group after the family of Saudi Arabia's Fawaz Alhokair dropped its own $1.1 billion offer, banking sources told Reuters on Monday.

A deal with investors led by Arab Bank Group's chairman Sabih al Masri, a leading Jordanian businessmen with extensive holdings in banking and hotels, could be imminent, they said.

The Alhokair family was in talks to buy the stake in the Jordan-based bank, one of the Arab world's largest privately owned banks, after construction giant Saudi Oger began seeking buyers to help ease cashflow problems brought on by difficulties in the Saudi building sector."

'via Blog this'