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Bahrain-listed Khaleeji Commercial Bank said on Wednesday it agreed to acquire BLC Bank-France for $250 million. The bank acquires a European Union-wide banking license as well as BLC's four branches in the United Arab Emirates and one branch in Paris.
Khaleeji said in a statement posted on the Qatari bourse website the rebranding and integration of BLC will be completed over the next six months, with all 130 BLC employees being taken over.

Copyright Reuters, 2008

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