QNB set to acquire stake in SocGen's Egyptian arm
Complex Made Simple

QNB set to acquire stake in SocGen's Egyptian arm

QNB set to acquire stake in SocGen's Egyptian arm

French lender Société Générale is close to concluding the sale of its majority stake in an Egyptian bank to Qatar National Bank (QNB), Reuters has reported, citing sources familiar with the matter, Reuters has reported. QNB, part-owned by Qatar's sovereign wealth fund, will also make a mandatory offer to minority shareholders for the remaining 23% of Egypt's National Société Générale Bank (NSGB), the sources said. The two deals will value all of NSGB at about $2.6bn, three sources said.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved