First Abu Dhabi Bank restarts exclusive talks to buy Bank Audi Egypt

First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates, has resumed exclusive talks with Lebanon’s Bank Audi to acquire its Egyptian business, according to Audi Bank managing director Mohamed Bedeir.

“These discussions are subject to a confirmatory due diligence exercise, definitive transaction agreements and the necessary regulatory approvals,” FAB said in a statement.

Sources told Reuters last month that FAB planned to restart talks to buy Bank Audi Egypt after they were put on hold in May because of the COVID-19 pandemic.