Cairo - Mubasher: The Egyptian Financial Supervisory Authority (EFSA) said on Thursday it approved to exempt Abu Dhabi Islamic Bank (ADIB) - Egypt from submitting mandatory tender offer to buy Adiles Leasing.

EFSA said it exempted the lender from submitting offer to buy 35.73% stake in Adiles, jointly owned by El Kahera El Watania and Alexandria National Co. for Financial Investment, in the light of the restructuring of the related companies.

ADIB - Egypt is capitalised at EGP 2 billion, distributed across 200 million shares at EGP 10 par value each.