Search

Lebanon Finance News

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

Tag

Mergers & acquisitions (M&A)

EuroMena buys stake in Moroccan retailer. Two funds will be launched within six months

Retail-1.jpg

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….
Article details

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

GroupMed-IPO-Lebanon.jpg

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….
Article details

Shaker Holdings exits BLOM Bank for $69.8 million. Main stake bought by other shareholders

BLOMBankShaker-Lebanon.jpg

Shaker Holdings has sold the remainder of its stake in BLOM Bank consisting of 6.5 million common shares to Banorabe S.A. and BLOM Bank itself for a total of $69.8 million. Each share was sold for $10.7, BLOM Bank said in a statement.

Luxembo….
Article details

Emirati Mohamad Alabbar acquires large stake in MEVP. Non-controlling share is less than 50 percent

AlBallaAcquiresMEVP.jpg

Emirati Mohamad Alabbar, founder of Emaar Properties, has acquired a stake in Middle East Venture Partners (MEVP). Alabbar’s acquisition is just under 50 percent.

“Alabbar had been looking for a VC partner who knows the technology ecosystem ….
Article details

Le Vendome secures debt reschedule scheme. The value of loans is around $100 million

ven.jpg

Bankmed and Bank Audi have agreed to refinance the debts of La Société des Grands Hotels du Liban (SGHL), owners of the Hotel Phoenicia and Le Vendome, after negotiations to restructure the debt. Bankmed is the main lender.

Th….
Article details

EIP fully acquires General Cable Egypt. Deal valued at $15 million

Cables-1.jpg

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….
Article details

Fransabank buys stake in Pinpay for $2.5 million. Bank to use the service

PinPay-1.jpg

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….
Article details

Four banks bidding for local HSBC branches. Fransabank, BLF, BLOM, and Audi have been prequalified

HSBC-to-sell-operations-leb.jpg

Fransabank and BLF are among the banks seeking to acquire the local operations of HSBC, according to a source close to the deal.

BLOM Bank and Bank Audi are also competing for the deal. HSBC has prequalified four banks only.

The banks….
Article details

Torbey camp prevails in sale of Credit Libanais. EFG Hermes to sell 63 percent share for $492 million

Credit-Libanais-acquisition.Update2016.jpg

The Egypt-based EFG Hermes said its board has approved the sale of its 63.7 percent stake in Credit Libanais for a total of $492.2 million. Credit Libanais Investment Bank (CLIB) has arranged the sale of 9.41 million shares, representing 40 percent ….
Article details

Blog at WordPress.com.

Up ↑