BLOM Bank S.A.L. (BDB:BLBD) signed an agreement to acquire the assets and liabilities of Lebanon Branch of HSBC Bank Middle East Limited on November 16, 2016. As of June 30, 2016, HSBC Bank Middle East Limited had 3 branches in Lebanon and approximately $953 million in total assets. BLOM BANK will ensure employment continuity to all HSBC current employees. The transaction is subject to regulatory approval from Banque du Liban and is expected to be completed during the first half of 2017. As of June 17, 2017 Banque du Liban approved the deal. Mo Al-Shukairy, Jack Hardman and Osama Lone of Clifford Chance LLP acted as legal advisor for HSBC Bank. HSBC Holdings plc (LSE:HSBA) acted as the financial advisor to HSBC Bank Middle East Limited in this transaction. BLOM Bank S.A.L. (BDB:BLBD) completed the acquisition of the assets and liabilities of Lebanon Branch of HSBC Bank Middle East Limited for approximately LBP 220 billion on June 16, 2017.