QNB Being Advised by JPMorgan on Egypt Bank Buy, Reuters Reports

Qatar National Bank SAQ (QNBK) has hired JPMorgan Chase & Co. (JPM) to advise on its planned acquisition of a majority stake in Societe Generale SA (GLE)’s Egyptian unit, Reuters reported, citing sources it didn’t identify.

Societe Generale, which owns 77.2 percent of Egypt’s National Societe Generale Bank SAE (NSGB), is being advised by Morgan Stanley (MS) on the sale, the newswire said, citing the sources. A phone message left at with the Doha-based bank spokesman’s office was not immediately returned.

To contact the reporter on this story: Arif Sharif in Dubai at asharif2@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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