{"id":322732,"date":"2021-07-26T21:41:39","date_gmt":"2021-07-26T21:41:39","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=322732"},"modified":"2021-07-28T08:58:33","modified_gmt":"2021-07-28T08:58:33","slug":"arab-banking-corporation-offers-to-acquire-blom-bank-egypt","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/07\/26\/arab-banking-corporation-offers-to-acquire-blom-bank-egypt\/","title":{"rendered":"Arab Banking Corporation offers to acquire BLOM Bank \u2013 Egypt"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">The Arab Banking Corporation (ABC) has submitted an offer to buy up to 300 million shares representing 100% of the issued capital of BLOM Bank \u2013 Egypt at EGP 22.33 per share.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In a statement on Monday, the Egyptian Exchange (EGX) said that the execution and settlement currency is equivalent to $1.42 per share.<\/span><\/p>\n<p>The validity period of the MTO extends for 10 days starting from the next day following the publication date of the MTO until the end of the trading session on 5 August.<\/p>\n<p>In January, Bank ABC announced signing an agreement with Lebanon\u2019s Blom Bank to acquire its 99.4% stake in Blom Bank Egypt for EGP 6.700 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Egyptian Exchange (EGX) revealed the details of the mandatory tender offer (MTO) submitted by Bahrain&#8217;s Arab Banking Corporation (Bank ABC) to purchase up to 300 million shares or 100% of Blom Bank Egypt.<\/p>\n","protected":false},"author":4,"featured_media":320560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,23],"tags":[210],"class_list":["post-322732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-money-markets","tag-blom-egypt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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