UAE's Egypt Investment Hits Snag
A picture taken through the window of a building shows the Nile river and Cairo's skyline. (Photographer: Khaled Desouki/AFP via Getty Images)
The United Arab Emirates is seeking to plow money into Egyptian companies -- but its investment foray is not without obstacles.
First Abu Dhabi Bank, the UAE’s biggest lender, withdrew its bid for EFG-Hermes after facing lengthy regulatory delays in Egypt. The bid had valued Egypt’s largest investment bank whose shareholders include Natixis, at $1.2 billion.