VOL. XLIII

No. 43

23-OCTOBER-2000

EGYPT

HSBC Raises Stake In Egyptian British Bank

According to a company statement on 12 October, HSBC has acquired an additional 1,006,616 shares in the Egyptian British Bank SAE (EBB), taking HSBCs shareholding in EBB from 794,336 to 1,800,952 shares, or from approximately 40% to approximately 90% of EBBs issued share capital. HSBC paid E503.3mn ($134.2mn) for the offer, which it launched 3 October and closed on 11 October. Subject to the receipt of formal...