Samir Hanna, left, shakes hands with Suma Chakrabarti, Thursday, March 15, 2018. (The Daily Star/HO)
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The European Bank for Reconstruction and Development acquired a 2.5 percent stake in Bank Audi for nearly $65 million, the bank said Thursday. The announcement came after the President of EBRD Sir Suma Chakrabarti signed the agreement with Samir Hanna, chairman and Group CEO of Bank Audi.EBRD will acquire common ordinary shares of Bank Audi listed on the Beirut Stock Exchange – approximately 2.51 percent of Bank Audi's total common shares outstanding.The statement said that Bank Audi is looking to consolidate and reinforce its leadership in Lebanon and market positioning across its core countries of operations, in particular in Egypt and Turkey.Bank Audi's chairman praised the investment agreement with EBRD.
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