VOL. XLIII

No. 50

11-December-2000

EGYPT

NBK Fails To Acquire Egypts MAIB As Legal Issues Hamper The Deal

The National Bank of Kuwaits (NBK) ongoing attempts to purchase a 99.3% stake in Misr American International Bank (MAIB) at a cost of $106mn have been postponed due to legal problems concerning the share purchase agreement and the location of legal arbitration (MEES, 5 June). According to NBK, the two banks narrowed down outstanding issues to just a couple but were unable to close the deal...