The Daily Star (Beirut, Lebanon)

EBRD Acquires 2.5-Pct Stake in Bank Audi

Summary: The European Bank for Reconstruction and Development acquired a 2.5 percent stake in Bank Audi for nearly $65 million, the bank said Thursday.

BEIRUT: The European Bank for Reconstruction and Development acquired a 2.5 percent stake in Bank Audi for nearly $65 million, the bank said Thursday. The announcement came after the President of EBRD Sir Suma Chakrabarti signed the agreement with Samir Hanna, chairman and Group CEO of Bank Audi.

"The European Bank for Reconstruction and Development completed an equity investment today in Bank Audi S.A.L, the largest banking group in Lebanon, which ranks among the leading regional banking institutions in the Middle East and North Africa. …

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