| DUBAI, Sept 6
DUBAI, Sept 6 The sale of British bank Barclays'
Egyptian business has attracted bids from the two
largest banks in Morocco and the United Arab Emirates, two
sources familiar with the matter said on Tuesday.
The UK-based lender is seeking to sell its African
operations as part of a plan by Chief Executive Jes Staley to
simplify its structure and improve shareholder returns, although
attempts to sell the African businesses as one have come up
against difficulties, including the disparate nature of the
Interested parties had been invited to submit bids for the
Egyptian unit by the end of August.
By this deadline both Morocco's Attijariwafa and
Dubai-based Emirates NBD lodged offers, according to
the two sources.
Barclays and Emirates NBD declined to comment. Attijariwafa
didn't respond to a request for comment.
Emirates NBD, which is being advised by New York-based
Perella Weinberg Partners, already has operations in Egypt,
having bought BNP Paribas' unit there in 2013.
The general manager of the Moroccan lender, Ismail Douiri,
told Reuters in March it was interested in Barclays Egypt,
having been keen to expand there for several years. It is being
advised by UBS.
Barclays has 56 branches and serves around 127,000 customers
in Egypt, where it first established a foothold in 1864,
according to the bank's website.
Sources have previously said Barclays Egypt's equity value
was around $400 million.
(Additional Reporting by Lawrence White in London; Editing by