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GroupMed Holding s.a.l., the owner of Bankmed s.a.l. is pleased to announce a new shareholder, OLT Holding s.a.l.Following the approval of the Central Bank of Lebanon, OLT Holding s.a.l. owned by Mr. Ala Al Khawaja has successfully acquired from Mr. Ayman Hariri a 42.24% ownership stake of the share capital of GroupMed Holding s.a.l. The acquisition price corresponds to a total valuation of GroupMed Holding s.a.l at US$ 1,267,000,000 (one billion two hundred sixty-seven million US Dollars).In the field of banking & finance, Mr. Al Khawaja's track record includes many successful transactions involving stakes in financial institutions such as Societe Generale (Egypt), Bank Audi (Lebanon), EFG Hermes Holding (Egypt) and Egyptian American Bank (Egypt).GroupMed Holding s.a.l is a Lebanese company holding investments in banking, insurance, real estate, industry and services sectors located in seven countries within the Middle East and Europe.Bankmed recorded a Capital Adequacy Ratio of 15.4%, exceeding the Central Bank of Lebanon (Banque du Liban -- BDL) regulatory requirements of 14% and a foreign currency liquidity ratio of 31.2%, far surpassing BDL's requirement of 10%.
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