VOL. XXX
NO. 16
26-JANUARY-1987
Financial and Banking News
REGIONAL BANKING
Lebanese Bank Withdraws from Saudi Joint Venture Bank
The Banque du Liban et d'Outre Mer of Lebanon has sold its 250,000 shares inthe Saudi joint-venture bank United Saudi Commercial Bank (USCB) for a totalvalue of SR297.5mn ($79.3mn) at an average price of SR119 per share. Thefounding shareholders of USCB have reportedly bought the shares of the Lebanesebank. Before this sale, USCB was owned 60% by Saudi nationals, and...
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