M&As, Bank Audi, banking, First Abu Dhabi Bank, employee rights

M&A WATCH- FAB will keep Bank Audi employees on board if its acquisition goes through -banking sources: First Abu Dhabi Bank (FAB) intends to keep Bank Audi’s 1,700 employees if it closes ongoing talks to acquire the Lebanon-based bank’s operations in Egypt, industry sources told Masrawy. The acquisition talks, which separate sources previously told the newspaper should wrap up within three months, were confirmed by FAB last month. An agreement would see Audi offload USD 4.4 bn-worth of assets due to the ongoing financial crisis in Lebanon.