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Egyptian bank seeks Gulf expansion
- Egypt: Thursday, December 27 - 2007 at 09:31
Egyptian investment bank Naeem Holding is seeking investment opportunities in Bahrain and Qatar as part of a regional expansion plan in 2008, reported Reuters. Basem el-Shawy, Naeem's director of investment relations, said detailed plans will be announced early in the year. Naeem Holding is also about to finalise an acquisition of up to 100% of Saudi investment bank Naeem Saudi Arabia. The firm said in November it was seeking to acquire only between 75 and 80% of Naeem Saudi Arabia for five times the Saudi company's expected net normalised earnings in 2008.
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Amena Bakr, Senior ReporterThursday, December 27 - 2007 at 09:31 UAE local time (GMT+4)
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