SaudiArabiaPR.com, Online Press Release from Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
Consortium buys billion dollar stake in Arab Bank Group

Jeddah, KSA, February 13, 2017:  Baker McKenzie advised a consortium led by Arab Bank Chairman Sabih al Masri, in acquiring a 20% stake in Arab Bank Group from Oger Middle East Holdings.

A consortium of investors bought a 20 percent stake in Arab Bank Group for $1.12 billion. These were led by Arab Bank Chairman Sabih al Masri, a businessman with stakes in other banks and the hotel industry, and owner of ASTRA, a diversified group of companies he founded with investments in a wide range of sectors that has 6,000 employees in 11 countries. 

Arab Bank, headquartered in Jordan, is one of the Arab world's largest privately owned banks and operates in 30 countries. The bank has assets of more than $46 billion, with 600 branches on five continents. It owns 40 percent of Saudi Arabia's Arab National Bank ANB. 

The seller, Oger Middle East Holdings, is one of the Gulf's largest construction companies.

Riyadh partner Karim Nassar led the team, assisted by Noura Taher. 'This was a complex acquisition of a large stake in one of the region's largest financial institutions, involving multiple investors and countries,' said Mr. Nassar. 'It underlines confidence in the banking sector and Arab Bank's continued opportunities for expansion.'

QInvest, a Qatari investment bank was the sole financial advisor to the consortium.

Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 3873 times
PR Category : Banking & Investments
Posted on : Monday, February 13, 2017  9:57:00 AM UAE local time (GMT+4)
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
An Amazing Collection for Ladies From Police [21193-Views]
212 VIP Extra Limited Edition [18495-Views]
Get closer- your makeup is invisible with Make Up For Ever's New Ultra HD Concealer [17519-Views]
Cole Haan Delivers True Performance Footwear With the Release of the Zerøgrand All-day Trainer [16954-Views]
A City by the Sea and the Desert: Diana Arno SS19 Collection [16912-Views]
Ralph Lauren offers the spring 2019 collection [13481-Views]
Detox your scalp, detox your mind with new Head & Shoulders Charcoal [13468-Views]
The RL50 Handbag: Introducing a New Icon [13251-Views]
SPRING 2019: MEET ‘CECE' [12193-Views]
Huawei Launches 5G Multi-mode Chipset and 5G CPE Pro [11402-Views]
Roberto Cavalli launches new Florence Amber [11250-Views]
Turkish Airlines introduces its new The LEGO® Movie 2 Inflight Safety Video, before moving its monum... [8930-Views]
The Fall 2019 Michael Kors Collection Runway Show [8466-Views]
Record Number of Innovations at the ISH: GROHE is Shaping the Future of Water [7692-Views]
IHG signs world's largest Crowne Plaza® in Makkah [6199-Views]
SOUQ's ‘Everything For You Sale' is Back, Offering Savings Of Up To 70% [5736-Views]
Saudi Finance Minister to Bloomberg: 2.6% GDP Growth In 2019 [5363-Views]
GROHE Shapes the Future of Water with a record number of innovations at ISH 2019 [4830-Views]
Immigration Bureau of Thailand and VFS Global introduce new Thailand eVisa service for Saudi travell... [4502-Views]
UL and Saudi Telecom Company announce plans to establish a Center of Excellence in Saudi Arabia [4453-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories