Milbank, Tweed, Hadley & McCloy LLP’s Global Capital Markets Group advised Bank Audi sal in connection with the European Bank for Reconstruction and Development (EBRD)’s acquisition of Bank Audi common ordinary shares listed on the Beirut Stock Exchange, representing approximately 2.51% of Bank Audi’s total common shares outstanding. The share acquisition constitutes EBRD’s first-ever investment in Lebanon and its first equity investment in a banking institution in the southern and eastern Mediterranean (SEMED) region. The investment follows six months after Lebanon became an economy of operations for EBRD.

Bank Audi is the largest banking group in Lebanon and ranks among the leading regional banking institutions in the Middle East and North Africa.

The EBRD is a multilateral bank committed to the development of market-oriented economies and the promotion of private and entrepreneurial initiative in more than 38 economies.

The Milbank team consisted of Global Capital Markets partner Apostolos Gkoutzinis, special counsel Randy Nahlé and associate Iakovos Anagnostopoulos.

Mr. Gkoutzinis said: “We are extremely pleased that one of the first projects that our team has completed since joining Milbank, is this landmark transaction for our client Bank Audi and for the EBRD and the Lebanese economy. It is truly an honor for us to have represented one of the leading financial institutions in the Middle East on such a key transaction after many years representing major financial institutions in Europe in connection with securities offerings, financings and general corporate and legal matters. We consider this a powerful endorsement of the excellence, breadth and global reach of our capital markets practice, and we look forward to further successful milestones in the future.”