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Potential deal activity in the EMEA financial sector through Dec. 1


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Potential deal activity in the EMEA financial sector through Dec. 1

S&P Global Market Intelligence presents In Play Today, a periodic summary of potential deal activity in the financial sectors of Europe, the Middle East and Africa. This summary, which is displayed according to the location of a target's headquarters, is based on information obtained by S&P Global Market Intelligence and may not be inclusive of all potential deal activity.


* The board of Banca Carige SpA shortlisted two bidders for the sale of its consumer credit unit, Creditis Servizi finanziari SpA. The lender said it aims to reach a final decision before the end of its rights issue period, which is slated to conclude Dec. 6.

* UBS Group AG is working on various acquisition scenarios for Germany's second-largest private lender Commerzbank AG. A full takeover, however, is not likely, Neue Zürcher Zeitung reported, citing an insider.

* Standard Chartered Plc is close to signing a deal to sell its real estate principal finance unit to U.K. private equity firm Actis, Reuters reported, citing "sources with knowledge of the matter." The unit holds about $700 million in investments, primarily across China, South Korea, India and Southeast Asia. If a deal is reached, the investments and their managers will be spun off to Actis.

Rest of the world

* Al Rajhi Banking & Investment Corp. denied reports that the Saudi Public Investment Fund acquired a 25% stake in the lender, Argaam reported.

* Banco de Moçambique's pension fund is looking to sell 20% to 40% of Moza Banco SA after it injects further capital into the lender, "four people familiar with the matter" told Bloomberg News. Although discussions are at a preliminary stage and may not result in a deal, the potential sale could come after Mozo Banco's planned 3.5 billion Mozambican meticais rights issue in December, in which the pension fund will be the sole participant.

* The Ghanaian government could merge National Investment Bank Ltd. and Agricultural Development Bank Ltd. to create the national development bank planned under the national budget for 2018, Graphic Online reported, citing Finance Minister Ken Ofori-Atta. The government is considering injecting between 1 billion Ghanaian cedi and 2 billion cedi of capital into the proposed development bank and setting up "four to five big local banks" that will support the country's economic transformation.

* Since 2016, United Arab Emirates-based Bank of Bank of Sharjah PJSC and Invest Bank PSC have been discussing on-and-off a potential merger, which could create an entity with about 50.6 billion dirhams of assets, Reuters reported, citing "sources familiar with the matter." The merger, which is being driven by authorities in the emirate of Sharjah, could be completed by March or April 2018 if certain conditions are satisfied.

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