Fransabank takes large stake in SGBL
Daily Star staff
Wednesday, January 16, 2008
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Fransabank has acquired 34 percent of Societe Generale de Banque au Liban (SGBL) through a share swap with BLC Bank, a fully owned unit of Fransabank, according to Audi Bank's Lebanon Weekly Monitor. The deal involves former SGBL chairman Maurice Sehnaoui receiving a 30 percent stake in BLC in return for his 34 percent share in SGBL.
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