FGB and NBAD’s shareholders have approved the bank’s merger in a general assembly meeting that was held yesterday. The merger has been approved by the Central Bank of the UAE, and requires further approval from international regulators and the Securities and Commodities Authority (SCA) before it becomes effective, which is expected to occur towards the end of the first quarter of 2017. Following the shareholder approval, a 30-day creditor objection period will be triggered on December 12, 2016. (Company disclosure)
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