The Moroccan lender Attijariwafa Bank is considering acquiring Barclays Egypt. The bank is said to already have appointed UBS as financial advisor and is preparing a preliminary acquisition offer needed to start the due diligence as soon as it obtains Barclays and central bank approvals.Barclays, which is looking to entirely divest its African operations over three years, recently said it would sell a 12.2 per cent stake in Barclays Africa Group which doesn’t include Egypt for $879m.
Other entities showing interest in the bank are First Gulf Bank, ADCB, Rakbank, Lebanon’s Byblos and Emirates NBD.
