BLOM Bank has confirmed that it is in talks to buy the local arm of HSBC Bank Middle East. Negotiations have not yet resulted in a closing agreement, according to sources at both banks.
The deal is expected to close at $90-$100 million.
The fate of nearly 200 local HSBC employees are at stake, said a source familiar with the subject.
Other banks vying for HSBC's business included Fransabank, Banque Libano-Française (BLF), and Bank Audi.
The sale of HSBC Leban...
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