DUBAI, United Arab Emirates (AP) ? Qatar National Bank says is planning to buy a majority stake in Morocco-based lender Union Marocaine des Banques as it looks to expand its presence in Africa.
State-backed QNB said Wednesday the deal must still be approved by the UMB's board and regulators.
Financial details weren't provided.
Qatar's sovereign wealth fund, the Qatar Investment Authority, controls QNB through a 50 percent stake.
The deal comes a day after another government-owned Gulf investor, Abu Dhabi's Aabar Investments, agreed to raise its stake in Italian lender UniCredit to 6.5 percent from about 5 percent now.
Associated Presswalmart black friday ad rick perry gaffe rick perry gaffe graham spanier graham spanier penn state board of trustees joe pa
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.