Bank of Beirut (BoB) said its board has approved a plan for the acquisition of the entire shares of Banque de Crédit National (BCN).
BoB said its board has mandated Salim Sfeir, its chairman, to negotiate with BCN's shareholders and to set the acquisition terms. The chairman was also authorized to sign all related contracts and documents.
BCN's total assets stood at $217 million at the end of 2015. Shareholder equity totaled $28 million. The bank has three branches, two in ...
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