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.
