Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) affirmed that any developments regarding the potential acquisition of Bank Audi Egypt will be disclosed to the market in due course.

The lender said that it “does not comment on market rumors or speculation” in reference to the recent news about restarting discussions to acquire Bank Audi Egypt, according to a statement to the Abu Dhabi Securities Exchange (ADX) on Tuesday.

In May, FAB agreed with Bank Audi to halt the transaction process regarding its acquisition of Bank Audi's subsidiary in Egypt due to the economic consequences caused by the coronavirus (COVID-19) pandemic.

Source: Mubasher

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