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Wednesday, 8 February 2017

UPDATE 2-Chairman leads deal to buy stake in Arab Bank for $1.12 bln | Reuters

UPDATE 2-Chairman leads deal to buy stake in Arab Bank for $1.12 bln | Reuters:

"A consortium of Arab and Jordanian investors led by Arab Bank Chairman Sabih al Masri has bought a 20 percent stake in Jordan's Arab Bank Group for $1.12 billion, the bank said on Wednesday. It said the deal to buy the stake from Oger Middle East Holdings, part of the Lebanon's Hariri family business empire, involved a consortium including 40 investors, a majority of them Jordanian. Masri led the negotiations after the family of Saudi Arabia's Fawaz Alhokair dropped a planned $1.1 billion offer."



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