EBRD’s $65 million acquisition of 2.51% ordinary shares of Bank Audi

Milbank, Tweed, Hadley & McCloy LLP has advised Bank Audi sal in connection with the European Bank for Reconstruction and Development (EBRD)’s acquisition of Bank Audi common ordinary shares listed on the Beirut Stock Exchange, representing approximately 2.51% of Bank Audi’s total common shares outstanding.

The share acquisition constitutes EBRD’s first-ever investment in Lebanon and its first equity investment in a banking institution in the southern and eastern Mediterranean (SEMED) region. The investment follows six months after Lebanon became an economy of operations for EBRD.

Bank Audi is the largest banking group in Lebanon and ranks among the leading regional banking institutions in the Middle East and North Africa.

The EBRD is a multilateral bank committed to the development of market-oriented economies and the promotion of private and entrepreneurial initiative in more than 38 economies.

The Milbank team consisted of Global Capital Markets partner Apostolos Gkoutzinis (picture), special counsel Randy Nahlé and associate Iakovos Anagnostopoulos

Involved fees earner: Apostolos Gkoutzinis – Milbank; Randy Nahlé – Milbank; Iakovos Anagnostopoulos – Milbank;

Law Firms: Milbank;

Clients: Bank Audi S.A.E.;

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