#acquisition

First Abu Dhabi Bank acquires 100% of Bank Audi Egypt’s share capital

The proceeds will help strengthen Bank Audi group’s capitalisation and financial resilience

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Dubai’s GMG acquires Southeast Asian sports retailer Royal Sporting House

GMG will now operate over 550 sports retail stores in 57 cities across 12 countries

Bahrain’s Investcorp acquires cereal and coffee company Viz Branz

Viz Branz has approximately 1,300 employees with manufacturing facilities and operations in China and Myanmar

Saudi bank NCB plans $15.6bn takeover of rival Samba

The combined bank would have total assets of about $210bn, making it the third largest in the region behind Qatar National Bank and First Abu Dhabi Bank

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Oil giant Saudi Aramco completes $70bn takeover of SABIC

Aramco will push back the bulk of installments until after 2022 and delay the final one by three years until 2028

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Aramco begins taking SABIC stake in $69bn of block trades

Aramco will pay $24.8bn this week as a first installment in the deal

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No acquisition by US-based bank, clarifies Dubai lender Emirates NBD

The bank stated that 101,731,408 of its shares were purchased by 254 unique investors on May 28