DUBAI - Egypt's largest investment bank EFG Hermes has appointed Goldman Sachs to advise on First Abu Dhabi Bank's (FAB) offer to acquire a majority stake, it said on Monday.

The Cairo-listed bank said its board also agreed to allow the United Arab Emirates' biggest lender to conduct due diligence, according to a bourse filing.

FAB this month made a non-binding offer to buy at least 51% of EFG Hermes for 19 Egyptian pounds ($1.21) per share, which valued Egypt's leading investment bank at nearly $1.2 billion.

($1 = 15.6600 Egyptian pounds)

(Reporting by Hadeel Al Sayegh Editing by David Goodman) ((; +971566883310;))