No. 50

VOL. XL

15-December-1997

LEBANON

Banque Audi Completes Merger With Smaller Lebanese Bank

Banque Audi announced last week that its take-over of the medium-sized CreditCommercial du Moyen Orient (CCMO) was completed as of 8 December with the merger of thebranch network, operations and personnel of CCMO with that of Banque Audi. Thefinalization follows the approval of the merger by the Central Bank of Lebanon. Last JulyBanque Audi acquired all of CCMO's shares for $50mn (MEES, 21 July)....