VOL. XLII
No. 19
10-May-1999
EGYPT
Foreign Banks Express Interest In Sale Of Egypt Arab AfricanBank
A majority stake of between 70-93% in Egypt Arab AfricanBank (EAAB) has attracted the interest of a number of foreign, regional andlocal banks, with names like Citibank and Hermes on the list of potentialbidders, according to an official at EAAB. The official told MEES thatby the end of April 21 banks from the US, the UK, Kuwait and Egypt hadexpressed interest in buying the stake. The official said...
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