AMMAN, Feb 8 (Reuters) - A consortium of Arab and Jordanian investors led by Arab Bank Chairman Sabih al Masri has bought Oger’s 20 percent stake in Jordan’s Arab Bank Group for $1.12 billion, the bank said on Wednesday.
It said the deal to buy the stake from Lebanon’s Hariri family which owns Oger was concluded by the consortium that includes 40 investors, a majority of them Jordanian.
Masri led negotiations to buy stake after the family of Saudi Arabia’s Fawaz Alhokair dropped a $1.1 billion offer.
The stake is held by Oger Middle East Holding, which is owned by the family of Lebanese Prime Minister-designate Saad al-Hariri. (Reporting by Suleiman Al-Khalidi; editing by Jason Neely)