VOL. XLII

No 50

13-December-1999

LEBANON

Standard Chartered Agrees Terms Of Purchase For MetropolitanBank

Standard Chartered announced on 29 November that it hadagreed on the terms for the purchase of an 89% stake in the share capital ofMetropolitan Bank in Lebanon. According to an official statement from StandardChartered, Metropolitan, which was founded in 1979, has six branches and a netasset value of $11mn. The outstanding 11% of the share capital will remain withMetropolitan痴 founders, the...