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Lebanon Finance News

Dedicated to economic and business news on Lebanon, managed by the team of Lebanon Opportunities.

Month

June 2016

IFC to invest in Bank Audi Turkey. Capital increase of $342 million will include EBRD and other investors

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Odea Bank in Turkey, a subsidiary of the Bank Audi Group, said it will increase its capital by one billion Turkish lira ($342.6 million) through subscriptions from new shareholders and its mother company. The bank had $471 million in equity at the e….
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Solidere pays out dividends despite losses. Better sales expected this year

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Solidere will pay dividends of $35 million to its shareholders and expects greater property sales by the end of 2016.

In an announcement following its General Assembly meeting, held June 27, the real estate developer said that it will distrib….
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Banks now to fund speculative property deals. Ruling helps ease developers debt burden

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The Central Bank (BDL) has issued a ruling that allow banks to provide loans to real estate companies that wish to purchase built properties to help alleviate the debt burden of some real estate developers.

The ruling allows real estate deve….
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EIP fully acquires General Cable Egypt. Deal valued at $15 million

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Emerging Investment Partners (EIP) has fully acquired General Cable Egypt, said Wassim Heneine, EIP’s Managing Director.

The agreement was closed for an undisclosed sum. According to sources close to the deal, the investment included $10 mil….
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Fransabank buys stake in Pinpay for $2.5 million. Bank to use the service

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Fransabank will invest $2.5 million in Pinpay, a local provider of mobile payment services, said a source close to the deal.

Under the deal, Fransabank will also be using Pinpay’s services for its customers. The bank will stop operating the….
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