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Lebanon Finance News

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

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Mergers & acquisitions (M&A)

Bank Audi is not merging with Bankmed. Baz: “We are redeploying employees n ot laying them off”. News from Lebanon

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Bank Audi is not considering a merger with any big bank, and claims that it is in talks to acquire Bankmed are baseless, according to Freddie Baz, Vice Chairman and Strategy Director of the Bank Audi group.

Mega mergers cannot happen in Leban….
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BLC to sell Cypriot bank to Maurice Sehnaoui. Sehnaoui to exit stake in BLC. News from Lebanon

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A group of investors led by Maurice Sehnaoui is in talks with BLC Bank to buy its stake in the Cyprus-based USB Bank. Sehnaoui will in turn exit his stake in BLC Bank in favor to the Kassar family, which owns the majority of it.

BLC Bank owns….
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Lebanese-Australian buys five pct of Bank of Beirut. Stake acquired for $57.3 million. News from Lebanon

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Sarkis Nassif, CEO of Australia-based Holdmark Real Estate Property Group, will acquire five percent of Bank of Beirut for $57.3 million.

The bank will issue 3.05 million new common shares to Nassif at the current market price of $18.8 per sh….
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Alaa Al Khawaja chairs GroupMed. Mohammed Hariri is still Chairman of Bankmed. News from Lebanon

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Egypt-based Jordanian businessman Alaa Al Khawaja, who last year acquired a 42.24 percent stake in GroupMed Holding, has become the group’s Chairman.

Khawaja has replaced Mohammed Hariri who is still in his position as Chairman and General Ma….
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Emirates NBD sells 40 percent of its BoB shares. Deal valued at $39 million. News from Lebanon

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Bank of Beirut (BoB) acquired more than 40 percent of Emirates NBD’s stake in the bank, valued at $39 million. It represents 2.7 percent of the bank’s equity out of a total 6.5 percent shareholding. An EMIRATES NBD is a UAE-based bank.

A sour….
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SGBL to buy two banks in France and Monaco. $183 million in combined equity

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Société Générale de Banque au Liban (SGBL) said it has signed a deal with Luxembourg-based KBL European Private Bankers (KBL epb) to acquire two of its subsidiaries.

The subsidiaries are KBL Richelieu Banque Priv&e….
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Saradar Bank buys half of Vitas microfinance company. Saradar aims to gain a foothold in the microfinance market

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Saradar Bank said it has acquired a 49 percent stake in microfinance company Vitas SAL, a local subsidiary of the US-based Vitas Group. The transaction was valued at around $3.7 million according to a source linked to the transaction. Both Saradar a….
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EuroMena buys stake in Moroccan retailer. Two funds will be launched within six months

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Beirut-based EuroMena Funds has acquired a seven percent stake in Retail Holding, a Morocco-based diversified retail group for a total of 220 million Moroccan dirhams ($22.5 million), according to the Casablanca Stock Exchange.

Retail Holding….
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GroupMed mulls selling shares in IPO. Khawaja completes acquisition of 42.2 percent stake

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GroupMed Holding, the owner of Bankmed, is considering launching an Initial Public Offering (IPO) of its shares in the near future, said Alaa Al Khawaja, a new shareholder in the company.

Khawaja said that his acquisition of 42.24 percent sta….
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