RIYADH: Egypt"s EFG Hermes has appointed Goldman Sachs as financial adviser on First Abu Dhabi Bank"s offer to acquire a majority stake. The Cairo-based bank board has also given the UAE"s biggest lender the authority to conduct due diligence, according to a bourse filing. An independent financial adviser was also appointed to determine First Abu Dhabi Bank"s fair value in the event the bank submitted a compulsory purchase offer, so shareholders" interests would be protected and clarified, CNBC Arabia reported.
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