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QNB receives Egypt's nod for NSGB buyout
- Egypt: Tuesday, February 26 - 2013 at 03:22
Qatar National Bank (QNB) has received the approval of Egypt's financial regulator to acquire National Societe Generale Bank, after requiring QNB to buy the whole company rather than the originally planned 77% stake, Reuters has reported. Ashraf El Sharkawy, head of the Egyptian Financial Supervisory Authority said that the regulator had approved the offer. "Yes. We obliged Qatar National Bank to present an offer for 100%," he said.
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