Hogan Lovells advised the buyer.
First Abu Dhabi Bank has signed an agreement to sell its FAB Sudan business to Africa and Gulf Bank (AGB), a newly licensed bank in Sudan. The sale includes the transfer of all the assets, liabilities and employees of FAB Sudan and follows a strategic review of business activities at a Group level. The transaction will be completed over the coming months as both parties work together to ensure a seamless transition for clients, employees and stakeholders.
FAB Sudan was established in Sudan in 1976 and has become now the largest foreign bank in the country.
The Hogan Lovells team was led by Imtiaz Shah (Picture) with support from Robbie Nakarmi (Associate, Dubai).
Law Firms: Hogan Lovells;
Clients: Africa and Gulf Bank ;