The Libyan Investment Authority is considering opportunities to break into the Egyptian banking sector in the coming period by owning a commercial bank, according to sources.
The Libyan sovereign wealth fund, or the Libyan Investment Authority, is looking into the possibility of acquiring an Egyptian bank in full or with a large share, while the sources refused to disclose to the Egyptian newspaper what it is.
The Libyan Foreign Bank, owned by the Central Bank of Libya, owns a 27% stake in Egypt’s Suez Canal Bank.
A fierce race is raging between several parties to acquire the United Bank, which is owned by the Central Bank of Egypt.
The United Bank is part of Egypt’s government’s plan to exit the economy and sell its assets, including listing shares of state-owned companies on the stock exchange or selling stakes to strategic investors, or both.
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#Egypt #Egypt_News #Libya #Libya_News #Libyan_Investment_Corporation #Libyan_Sovereign_Fund #Suez_Canal
The Libyan sovereign wealth fund, or the Libyan Investment Authority, is looking into the possibility of acquiring an Egyptian bank in full or with a large share, while the sources refused to disclose to the Egyptian newspaper what it is.
The Libyan Foreign Bank, owned by the Central Bank of Libya, owns a 27% stake in Egypt’s Suez Canal Bank.
A fierce race is raging between several parties to acquire the United Bank, which is owned by the Central Bank of Egypt.
The United Bank is part of Egypt’s government’s plan to exit the economy and sell its assets, including listing shares of state-owned companies on the stock exchange or selling stakes to strategic investors, or both.
Continue Reading
#Egypt #Egypt_News #Libya #Libya_News #Libyan_Investment_Corporation #Libyan_Sovereign_Fund #Suez_Canal
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