Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Chairman- Sabih Al-Masri- leads deal to buy stake in Jordan's Arab Bank for $1.12 bln

2017-02-12

AMMAN, Feb 8 (Reuters) - A consortium of Arab and Jordanian investors led by Arab Bank Chairman Sabih al Masri has bought Oger's 20 percent stake in Jordan's Arab Bank Group for $1.12 billion, the bank said on Wednesday. It said the deal to buy the stake from Lebanon's Hariri family which owns Oger was concluded by the consortium that includes 40 investors, a majority of them Jordanian.  Masri led negotiations to buy stake after the family of Saudi Arabia's Fawaz Alhokair dropped a $1.1 billion offer.  The stake is held by Oger Middle East Holding, which is owned by the family of Lebanese Prime Minister-designate Saad al-Hariri Arab Bank is one of the Arab world's largest privately owned banks and operates in 30 countries. It owns 40 percent of Saudi Arabia's Arab National Bank ANB .Construction giant Saudi Oger, the central plank of the Hariri business empire, began over a year ago to seek buyers to help ease cash flow problems brought on by difficulties in the Saudi building sector. As a result, it has been seeking to shed assets to try to meet its debt, which includes around 15 billion riyals to banks, plus billions more to contractors, suppliers and employees, sources told Reuters in September.  The Arab Bank stake sale was expected to help it repay a $1.03 billion loan from regional and international banks due to mature this month. 


 

2017-04-23
PEC records net income of $3.60 million in Q1 2017

2017-04-23
TNB approves distributing 5% cash dividends for the year 2016

2017-04-23
Bravo realizes net loss of JD0.13 million in Q1 2017

2017-04-20
Medium liquidity in the quarterly disclosures and dividends distribution seasons

2017-04-20
PEC approves distributing 10% cash dividends for the year 2016

2017-04-19
TNB records net income of $2.77 million in Q1 2017

2017-04-18
BPC approves distributing 20% cash dividends for the year 2016

2017-04-18
VOIC records net income of JD1.07 million for Q1 2017

2017-04-13
Al-Quds Index declines amid anticipation elements’ overlapping

2017-04-13
TRUST approves distributing 15% cash dividends for the year 2016

2017-04-12
JPH proposes 10% cash dividends for the year 2016

2017-04-11
APC records net income of JD0.33 million in Q1 2017

2017-04-11
PIBC proposes 2.35% stocks dividends for the year 2016

2017-04-11
NSC recommends 10% cash dividends for the year 2016

2017-04-11
GUI approves distributing 10% cash dividends for the year 2016

2017-04-10
3G services in 6 months in the West Bank

2017-04-10
BOP approves distributing 2.56% stocks dividends and 10.44% cash dividends for the year 2016

2017-04-10
QUDS proposes distributing 12% stocks dividends for the year 2016

2017-04-06
Dividends approval momentum and a final agreement to run 3G frequencies in the Palestinian markets

2017-04-06
PALTEL approves distributing 40% cash dividends for the year 2016

2017-04-04
PADICO proposes distributing 5% cash dividends for the year 2016

2017-04-03
AIB approves raising its capital to $75 million and distributing 12% cash dividends for the year 2016

2017-04-02
NIC approves 20% cash dividends for the year 2016.

2017-04-02
ISBK approves raising its capital to $69 million and distributing 8.50% cash dividends for the year 2016.

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013