VOL. XLII

No. 22

31-May-1999

SAUDI ARABIA

USB-Samba Merger To Be Finalized

The planned merger between United Saudi Bank (USB) and theSaudi American Bank (Samba) is close to finalization in a deal which values oneSamba share at 3.25 USB shares. Progress was announced following a meetingbetween the two banks on 24 May to resolve outstanding differences overvaluation. According to the Saudi daily Arab News, Prince al-Walid ibnTalal rejected an earlier Samba proposal of 3.75 USB shares to one Samba...