Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) seeks to resume talks on acquiring the Egyptian subsidiary of Lebanon's Bank Audi, two sources told Reuters.

One of the sources said that the UAE's biggest lender will hold an internal meeting this week to discuss ways to restart negotiations and reach a final bid.

The other source referred that FAB planned to restart negotiations within two weeks.

It is noteworthy to mention that in May, FAB agreed with Bank Audi to suspend the transaction process regarding its acquisition of Bank Audi's subsidiary in Egypt due to the economic consequences caused by the coronavirus (COVID-19) pandemic.

Source: Mubasher

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