Six offers for purchasing Arab - African Bank of Egypt
Egypt, Business, 6/4/1999

Six financial corporations presented offers to purchase the shares of the Arab - African Bank of Egypt

Citibank, the British Standard Chartered Bank, the French Apricol, the Arab Banking Corporation in Bahrain, and the Kuwaiti National Bank and I.N.B.

Hani Seif El-Nasr told ArabicNews.com, "The final decision will be in coming August after the consent of the Egyptian central bank on the selling process. 56% of the shares will be sold to the the Arab - African bank and the rest for Mansour and El-Magrebi Group.

Seif El-Nasr added, "There are many conditions that must exist in the offer, the most important of which is that it must be an investment and business bank or a commercial bank, and in case a group of investors is presented, then two of its members must have previous experience in the field of banking."

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