Al Ahly Bank of Kuwait's $149 million acquisition of Piraeus Bank Egypt

10/11/2015

Public acquisition

Value:

$ 149 million

Status:

Completed

Date:

10/11/2015

Overview:

Al Ahly Bank of Kuwait acquired 98.49% of Piraeus Bank Egypt for $149 million.
Piraeus Bank is an Athens-based financial services company.
The company received an exemption from a mandatory tender offer, though will need a mandatory tender offer to acquire the rest of Piraeus Bank Egypt.
J.P. Morgan acted as financial adviser to the acquirer.

Rani Mehta - Journalist

Jurisdictions:

Egypt
Greece
Kuwait

Deal type:

Public acquisition

Practice area:

M&A

Governing law:

England and Wales

Industry sector:

Banking

Firms:

Ibrachy Legal Consultancy

Party: Piraeus Bank (Seller)

Norton Rose Fulbright

Party: Piraeus Bank (Seller)

Zulficar & Partners

Party: Al Ahli Bank of Kuwait (Acquirer)

Lawyers: Anwar Zeidan, Ashraf Ihab, Mona Zulficar

Related deals