Hogan Lovells advises the buyers on the acquisition of First Abu Dhabi Bank’s Sudanese banking operations
Dubai, 07 January 2020 – Global law firm Hogan Lovells is pleased to announce that it recently advised the buyer, a large diversified Sudanese conglomerate on the acquisition of First Abu Dhabi Bank's (FAB) Sudanese banking operations.
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. 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 (Partner, Dubai) with support from Robbie Nakarmi (Associate, Dubai).