Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has agreed with Bank Audi to suspend the transaction process regarding its acquisition of the Lebanese bank's fully owned subsidiary in Egypt.
This decision came amid the unprecedented circumstances and economic consequences caused by the coronavirus (COVID-19) pandemic, according to FAB's recent disclosure to the Abu Dhabi Securities Exchange (ADX).
It is noteworthy to mention that in January, FAB confirmed that it held talks with Bank Audi to acquire its subsidiary in Egypt (Bank Audi-Egypt).
