Baker McKenzie advised Bank Audi S.A.E. (Egypt), a fully-owned subsidiary of Bank Audi sal, with respect to its agreement with the National Bank of Greece (NBG) on its acquisition of the banking operations of NBG's Egyptian Branch. The transaction is structured as a single sale and transfer of selected corporate and retail assets and liabilities pertaining to the Egyptian operations of the NBG including, among others, a network of 17 branches.

The completion of the transaction is pending the final approval of the Central Bank of Egypt and the Central Bank of Lebanon, in addition to other regulatory approvals.

The acquisition is aligned with Bank Audi's growth plan and is aimed to enhance its market position.

Baker McKenzie's cross-border team advising Bank Audi is being led by Mohamed Ghannam and Mohamed Barakat from the Firm's Cairo office, in addition to  Gordon Low, Robert Gray and James Tanner from its London office.

"We are very pleased to represent Bank Audi on this important transaction. This acquisition enables our client to expand its reach within Egypt and continues our client's commitment and drive to service the Egyptian market”, said Baker McKenzie Partner Mohamed Ghannam.

Baker McKenzie is one of the leading firms for cross-border transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. From deal inception to business integration, we help clients bridge the gap between aspiration and achievement. The Firm leads and closes three deals a day with expertise spanning banking and finance, capital markets, corporate finance, funds, M&A, private equity, and projects. The combination of deep sector expertise, and our ability to work seamlessly across each of the countries where we operate, means we add unique value in shaping, negotiating, and closing a deal.

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