Allen & Overy, Freshfields Bruckhaus Deringer and Linklaters will advise on the mega-merger of Emirates Bank International (EBI) and the National Bank of Dubai (NBD). Goldman Sachs, under the supervision of Freshfields, will act as lead financial advisor to the banks’ steering committee.
As previously reported in Islamic Finance news (Vol. 4, issue 28, page 4), the merger will generate a market capitalization of Dh41.3 billion (US$11.24 billion), thus snagging the title of the Gulf’s largest bank. The bank will focus on Islamic financing and investment banking.
The complete merger of EBI and NBD is slated to take between 18 and 24 months.