Cross-border Baltic bank takeover is agreed

Article Abstract:

AS Hansabank has reached a deal to acquire a majority share of Lietuvous Taupomasis Bankas AB from the government of Lithuania. The deal for 90.7% of the bank is valued at 150 million litas (42 million euros).

Lithuania, Asset sales & divestitures, Foreign operations, Estonia, AS Hansabank, Lietuvous Taupomasis Bankas AB

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SEB and Swedbank abandon plan to merge

Article Abstract:

Skandinaviska Enskilda Banken AB's (SEB) planned merger with FoereningsSparbanken AB (Swedbank) has been terminated. The plan was opposed by European Union antitrust regulators.

Sweden, Cases, Antitrust law, European Union, Powers and duties, Skandinaviska Enskilda Banken, SwedBank AB

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GIB, Saudi International Bank agree to merge but terms are undisclosed

Article Abstract:

Gulf International Bank (GIB) and Saudi International Bank (SIB) have agreed in principle to merge. The terms were not disclosed. GIB said the transaction should be finished by the first quarter of 1999, and it is subject to regulatory approvals. The enhanced GIB will have over $14 billion in assets and customer relationships in international markets and throughout the Gulf. The merger will create a foothold in the Bahrain banking industry for SIB.

United Kingdom, Bahrain, Abstract, Gulf International Bank, Saudi International Bank

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