It seems to me that Riad Salemeh went to the United States and came back with a different opinion, or maybe he didn’t want to cause any crisis due to LCB’s money laundering allegations and found a neat exit out of this mess.
In all, The Lebanese Canadian Bank was apparently indeed laundering money and the only way to save it is by selling it to another bank. This other bank will be SGBL as it won the bid yesterday for over 550 million dollars.
Very smart move by our Central Bank governor to say the least.
But explain how a Bank with 380 million dollars of total assets(Societe General) can buy another one at of 483 million dollars (LCB) at a price of 580 million dollars.
Very smart Mr Riad Salameh !….Almost too smart for his own good