Arab Jordan Investment Bank (ASE:AJIB) entered into an agreement to acquire HSBC Bank Middle East Limited (Jordan) from HSBC Bank Middle East Limited on January 20, 2014. Arab Jordan Investment will acquire the entire banking business of HSBC Bank Middle East in Jordan, including its four branches. At September 30, 2013, HSBC Bank Middle East Limited (Jordan) had gross assets of $1.2 billion.

All employees, except a very few, are expected to be transferred to Arab Jordan Investment Bank. The transaction is subject to customary closing conditions. The transaction is expected to complete during the first half of 2014.

HSBC Bank Plc acted as financial advisor to HSBC Bank Middle East Limited. Riaz Vayid and Georges Amatoury of N M Rothschild & Sons Limited acted as financial advisor to Arab Jordan Investment Bank. Ronald Graham of Taylor Wessing and Dajani & Associates acted as the legal advisor to Arab Jordan Investment Bank.

Ernst & Young acted as accountant to Arab Jordan Investment Bank.