Banque Misr receives offers for Samba stake

23 May 2011

Mohammad Abbas Fayed, chairman of Egypt's state-owned Banque Misr, has said the lender has turned down offers from several Saudi businessmen to buy the bank's 2% share in Samba Financial Group, Saudi Arabia's second-largest lender by market value, Arabic Asharq al-Awsat has reported. The Samba stake was last valued at more than EGP5bn ($840 million) four years ago, the daily said.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.