VOL. XL
No. 22
2-June-1997
LEBANON
Lebanese Bank Up For Sale
The Banque du Liban (BDL), Lebanon's Central Bank, has invited bids for the saleof its 97% share holding in Credit Libanais. BDL, which acquired Credit Libanais in 1989following the crash of Mr. Roger Tamraz's financial empire, is seeking to sell the bank in a privateplacement to a strategic investor. The sale is open to foreigners and Lebanese, although, under Lebaneselaw, one-third of the shares of any Lebanese bank should be held by...
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