Blom pays $98m for MISR Bank

Lebanese bank Blom has increased its stake in the Romanian-Egyptian MISR Romania Bank to 97.78%, after having bought 84.24% for 86.7 million dollars, an announcement sent by the institution to the Egyptian stock exchange indicates. Early in October, Blom took over 12.53% in MISR Romania from MISR Egypt, for 11.82 Egyptian liras per share. The amount paid by Blom for the 96.78% stake stands at 97.8 million dollars. According to the agreement reached in October, Blom was supposed to announce the launch of an offer for the complete takeover of MISR Romania. The Lebanese institution made its bid on November 21, with the price similar to that in the previous transaction. ZF