Bank of Beirut is pleased to announce that Merit Holding SAL, the family holding of Mr. Jacques Saadé, has acquired a 4.5% stake in the ordinary share capital of the Bank.

Merit owns 70% of CMA CGM, one of the leading worldwide shipping groups.

Mr. Salim G. Sfeir, Chairman and CEO of Bank of Beirut, said:

“This initiative comes within Bank of Beirut’s expansion plans. I look forward to taking Bank of Beirut to new highs together with our shareholders and staff. I am confident that partnering with Merit Holding SAL, which shares with Bank of Beirut the same values and ambitiousness, creates an even stronger foundation to capitalize on many international opportunities.”

Mr. Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, declared:

“This new investment reinforces the role of Merit in the development of the Lebanese economy through the acquisition of a significant share in the capital of a prominent Lebanese bank such as Bank of Beirut that plays a key role in the growth of Lebanon.”

N.B: The acquisition is pending final regulatory approval