Arab Finance: Negotiations over Saudi Arabia’s acquisition of the United Bank of Egypt have ended due to a dispute over the valuation of the estimated multimillion-dollar deal, Asharq Business reported on February 22nd, citing anonymous sources familiar with the matter.
The talks are over at a time when the Egyptian government works on raising the necessary funding to bridge the financing gap.
The discussions about the Central Bank of Egypt (CBE)-owned lender stumbled over how to calculate the impact of the devaluation of the Egyptian pound on the deal, according to Bloomberg.