Sunday 21, February 2010 by
Byblos Bank capital increase approved, IFC stake completed
The bank, which is Lebanon’s third largest by assets, also confirmed that major shareholder Luxembourg-based Byblos Invest has completed the sale of 47.62 million shares to the International Finance Corporation for $100 million. This deal, in which the IFC is taking what will be an eight per cent stake in the bank after the capital hike, was announced on 29 January 2010.
