Investor Presentaiton
Acquisition of BNP Paribas Egypt
Emirates NBD
Highlights
On 9 June 2013, Emirates NBD acquired a
95.2% stake in BNP Paribas Egypt
Acquisition of the remaining 4.8% shares
were completed in September 2013
• The total consideration was USD 500
million which is 1.4 times the fair value of
net assets acquired
The difference between the fair value of
assets acquired and purchase
consideration is the goodwill
• The fair value of the assets and liabilities
was determined by an external expert
The purchase price allocation exercise
resulted in following allocations;
i) Banking license AED 357m
ii) Core deposits AED 99m
iii) Goodwill AED 136 m
• Acquisition related costs of AED 24.4
million were incurred and are included in
General & Administrative expenses
Financial Impact Upon Acquisition (AED million)
AED million
1,128
118
Book value of assets
Fair value adjustments
Fair value of net assets acquired
Goodwill and intangibles
Purchase consideration paid
Represented by:
Purchase consideration paid in cash
Acquisition related cost
1,246
592
1,838
1,836
2
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