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 3053 times
PR Category : Banking & Investments
Posted on : Monday, February 13, 2017  9:57:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of SaudiArabiaPR.com.
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
Cerruti 1881 Infinite Love [32730-Views]
Oh, Sweetie Lipcolour! [27646-Views]
Express Your Signature Style [26031-Views]
The Memovox Adventure [22829-Views]
Sacoor Brothers launches FIRST ever Fragrance “GENTLEMAN” [20689-Views]
Bath-time Essentials from Corine de Farme [20299-Views]
Jaeger-Lecoultre Main Sponsor of the 75th International Film Festival of La Biennale Di Venezia [20041-Views]
Rasasi Introduces Exquisite Musk Collection [20000-Views]
Sharjah continues to become more affordable, with rents and sales prices falling – Bayut H1 report [19819-Views]
Marchon Eyewear Summer 2018 Collections [14543-Views]
Celebrate the Moment with Mouawad Jewelry [14366-Views]
Introducing Salvatore Ferragamo's Men's Sun and Optical Capsule [12407-Views]
Marchon Eyewear and G-III Apparel Group Sign Exclusive Global Licensing Agreement For DKNY and Donna... [10504-Views]
Huawei's New Range of Artificial Intelligent Smartphones Set to Change Your Selfie Game [10496-Views]
The #1 trick to capturing the best photo at night? The trick is the AI camera in HUAWEI P20 Pro [10471-Views]
Your search for the best gifts just got easier with SOUQ's Interesting Finds [9352-Views]
Skyline Suhoor Night 2018 [8844-Views]
LG launches new AI-powered premium LG G7 ThinQ+ flagship for GCC consumers [7851-Views]
Historic Day Marked by Female Racing Driver as Saudi Women Gain the Right to Drive [6318-Views]
The Annual Skyline Iftar at Skyline University College [6298-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories