InvestBank sells shares in Lebanese lender
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InvestBank sells shares in Lebanese lender

InvestBank sells shares in Lebanese lender

UAE-based InvestBnank has sold its stake in First National Bank for $42m which led to notable changes in the shareholder structure of the Lebanese lender. Some three months ago, InvestBank decided to sell its share in First National Bank after obtaining a licence from the central bank to open a branch in Lebanon. The central bank asked the UAE bank to give up influential stakes in any Lebanese bank and not to be a member of its board of directors, which prompted InvestBank to authorise First National Bank to sell its 2.4 million shares.

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