First Abu Dhabi Bank (FAB) is in advanced talks with GB Auto to acquire 100% of its leasing arm GB Lease, according to Al Shorouk reported Saturday citing sources familiar with the discussions.
The two sides have not yet settled on a valuation but an agreement is supposed to be finalized some time during 2H 2022, the sources claimed.
Related Posts
No agreement yet: GB Auto has not entered any “definitive agreements” on a stake sale in subsidiary GB Lease, it said in an EGX disclosure yesterday.
FAB on a buying spree: The Gulf lender recently made an offer to buy a majority stake in leading Egyptian investment bank EFG Hermes as part of its wider plans for regional expansion.
