VOL. XLI
No. 49
7-December-1998
LEBANON
Bank Of Beirut Acquires Transorient Bank For $70Mn
In yet more Lebanese M&A activity, long-advocated by the CentralBank, the Bank of Beirut (BoB) acquired Transorient Bank for $70mn on 26 November. Withestimated combined assets of some $1.1bn (BoB - $774.6mn; Transorient - $383.5mn) andcombined capital of around $75mn, the acquisition puts BoB in tenth place amongLebanons 70 odd banks. BoB plans to raise its capital to around $100mn and to have a...
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