Al Ahly Bank of Kuwait's $149 million acquisition of Piraeus Bank Egypt

Overview:

• Al Ahly Bank of Kuwait acquired 98.49% of Piraeus Bank Egypt for $149 million.
• Piraeus Bank is an Athens-based financial services company. 
• The company received an exemption from a mandatory tender offer, though will need a mandatory tender offer to acquire the rest of Piraeus Bank Egypt.
• J.P. Morgan acted as financial adviser to the acquirer. 

Rani Mehta - Journalist