Bank Audi, NBG to present acquisition bid to the central bank in two week

M&A WATCH- Bank Audi, NBG seeking central bank signoff on sale: Bank Audi and the National Bank of Greece (NBG) plan will seek Central Bank of Egypt signoff within two weeks on a transaction that would see Audi acquire NBG’s operations in Egypt, Al Shorouk reported. Bank Audi announced earlier this month that it would acquire National Bank of Greece’s Egypt arm, including a book of “mostly of Egyptian-risk loans, deposits and securities (total assets of c. EUR 110 mn), a branch network of 17 branches and c. 250 employees.” NBG decided to exit the market last year as part of a wider plan to reduce its overseas presence under an EU-supervised restructuring.