BLOM Bank has signed an agreement to acquire HSBC Bank Middle East Limited – Lebanon for a value that is likely to range between $129 million and $144 million. The deal is expected to be completed in the first half of 2017.
The value constitutes the bank's goodwill and equity. The goodwill includes the value of HSBC's business and the improvements in the value of the bank's real estate properties.
"We placed a ceiling of $69 million on the price for the goodwill," said Saad Azhari...
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