Credit Libanais Bought By Saudi Group
The Banque du Liban said on 3 July that it had accepted a $163mn bid for its 97% stakein the medium-sized Credit Libanais (MEES, 2 June) from two groups both chaired byMr. Khalid bin Mahfuz, the principal shareholder in National Commercial Bank (NCB) ofSaudi Arabia. Capital Investment Holdings of Lebanon will take 32% and Capital InvestmentHoldings of Bahrain 65% of Credit Libanais. Seven banks paid for the tender...