VOL. XLII

No. 39

27-September-1999

LEBANON

BLC To Raise $140Mn From Shareholders To Purchase UBL

Banque Libanaise pour le Commerce (BLC) will raise $140mn innew capital through its existing shareholders to purchase United Bank ofLebanon (UBL), Mr. Jean Aboujaoude, Vice Chairman and General Manager of BLC,told MEES. The move follows the abandonment of merger plans between BLCand Lebanon痴 Byblos Bank earlier this year (MEES, 31 May). It is alsoindicative of changes taking place in the Lebanese...