Abu Dhabi Islamic Bank (ADIB) has become the majority owner of ADIB Egypt by increasing its equity stake in the subsidiary to 52 percent.
In a disclosure to the Abu Dhabi Securities Exchange (ADX) on Thursday, ADIB said it had acquired 9.6 million shares from National Investment Bank (NIB), representing 2.4 percent of ADIB Egypt’s share capital.
The deal has raised ADIB UAE’s ownership in the Egyptian unit to 52.60 percent.
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