Sharjah makes enhanced offer for struggling Invest Bank | ZAWYA MENA Edition:
The Government of Sharjah in the United Arab Emirates has made an enhanced offer to invest in struggling Invest Bank INVB.AD and the bank's shareholders will vote on the deal on Jan. 8, the lender said on Sunday.
Sharjah, one of seven emirates in UAE federation, had earlier offered to invest up to 1.9 billion dirhams ($517 million) in Invest Bank, one of the smaller banks in the UAE.
A shareholder vote had been scheduled for Dec. 29, but the meeting was adjourned until Jan. 8 to vote on the enhanced offer, the lender said in a stock exchange filing.
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