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Monday, 25 March 2019

Bank Audi to make bid for NBG’s Egypt arm within a week

M&A WATCH- Bank Audi to make bid for NBG’s Egypt arm within a week: Bank Audi has completed due diligence on the Egyptian unit of the National Bank of Greece (NBG) and is planning to make a bid within a week, Al Shorouk reports. The Central Bank of Egypt had granted Bank Audi the green light in January to move ahead with the due diligence. NBG, which owns 17 branches in Egypt, had decided to exit the market last year as part of a wider plan to reduce its overseas presence under an EU-supervised restructuring.

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