Cairo - Mubasher: Attijariwafa Bank has carried out the acquisition of Barclays Bank Egypt with a total value of $494.9 million ($9 billion), as shown by the data of the Egyptian Exchange (EGX) on Tuesday.
Sources has told Mubasher that the deal was finished over the counter on 9.951 million of the bank’s shares through 93 transactions.
Attijariwafa Bank filed in September 2016 an official request to the Centeral Bank of Egypt (CBE) to conduct the due diligence examination after making an initial bid for Barclays Bank Egypt.
Back in October, sources told Mubasher that Barclays Bank agreed to sell its Egyptian unit to Morocco's Attijariwafa Bank.
In March 2016, Barclays said it will sell its units in Egypt and Africa to seek higher shareholder returns.
Barclays has 56 branches and serves around 127,000 customers in Egypt, according to the bank's website.
