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Monday, 18 February 2019

US institution makes offer for United Bank

M&A WATCH- US institution reportedly makes offer for United Bank: A US institution has made an offer to acquire the United Bank and is currently doing due diligence on the transaction, according to a report in Amwal Al Ghad that cites remarks attributed to Central Bank Governor Tarek Amer. The Central Bank, which owns about 99.9% of the bank’s shares after creating it through the merger of a number of smaller institutions, announced in 2017 its intention to sell to a strategic investor.

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