Bahrain’s Ahli United Bank said on Monday it will offer LE 37 Egyptian a share to buy out minority shareholders in its Egyptian subsidiary.
In January, AUB raised its stake in Ahli United Bank Egypt to 79.6 percent from 35.5 percent for about $180 million. On Monday, the Bahraini lender said the offer to minority shareholders was to comply with Egyptian regulations.
It said the price per share offered equaled its previous offer, according to a regulatory filing to the Bahrain Stock Exchange.
The lender said it expected Egyptian regulators to approve the offer within the coming days.