Two Banks of Abu Dhabi to Merge as the Biggest Bank in Gulf Nation

Stockholders of the National Bank of Abu Dhabi and First Gulf Bank on December 8, 2016, approved to merge into the biggest bank of all Gulf Countries with an asset of $ 178 billion.
After the merger the combined company will be named as NBAD. The FGB shareholders will receive 1.254 NBAD shares for each FGB share they hold and FGB stockholders will own 52% of the new bank.

Source – Business Standard

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