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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Qatar National Bank buys 100pct of NSGB

Posted on 26 February 2013

The Egyptian Financial Supervisory Authority (EFSA) has approved the offer presented by Qatar National Bank (QNB) to buy 100% of National Société Générale Bank (NSGB). QNB is 50%-owned by the Qatar Investment Authority (QIA), the sovereign wealth fund spearheading Qatar’s international acquisitions lately, including stakes in Barclays, Volkswagen and Harrods.
The Qatari Bank submitted a mandatory tender offer (MTO) for 100% of the NSGB shares, according to a statement by EFSA, after being required by the authority to buy the totality of the shares rather than its originally planned 77% stake, which it announced in December………………………………………..Full Article: Source


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