FGB May Pay 14% Premium in Abu Dhabi Bank Deal, Arqaam Says - Bloomberg:
"First Gulf Bank PJSC could pay a premium of as much as 14 percent to buy National Bank of Abu Dhabi PJSC in a deal that would combine two of the biggest banks in the Middle East, according to a report by Arqaam Capital Ltd.
NBAD, which is 69 percent owned by sovereign wealth fund Abu Dhabi Investment Council, would play the role of a junior partner in a deal, analyst Jaap Meijer said in a research report Thursday. Meijer said a combination between the two may also pressure other banks in the country to merge.
NBAD and FGB are exploring a potential combination to create the largest lender in the region, people familiar with the matter said Thursday. The deal would create a lender with assets of about $170 billion, surpassing those of Qatar National Bank SAQ. NBAD and FGB declined to comment on a tie-up."
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