Byblos Bank has concluded a deal with the shareholders of Banque Pharaon & Chiha to acquire their entire stake in the bank for $91 million.
The Central Bank (BDL) had given the green light to the parties to go ahead with the deal but has yet to give its final approval.
ZR Holding, which is owned by brothers, Teddy and Raymond Rahmeh, will hold a 5.7 percent stake in Byblos Bank after the acquisition. This stake represents the entire equity of Banque Pharaon & Chiha. ZR Holding pr...
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