VOL. XLI
No. 50
14-December-1998
LEBANON
Lebanons Fransabank Purchases Universal Bank For $10Mn
In more Lebanese M&A activity, Fransabank announced on 8 Decemberthat it had purchased Universal Bank, reportedly at an estimated cost of $10mn, althoughFransabank has yet to confirm the figure. According to sources at the bank, the move waspart of Fransabanks strategy to, "improve and expand [their] position in themarket." A statement issued by Fransabank said that Universal Bank, which has five...
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