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Monday , December 5 2022

Kuwait’s KFH approves exchange ratio for Bahrain’s AUB acquisition

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KUWAIT CITY, July 25: Kuwait Finance House (KFH) approved, in a general assembly meeting on Monday, the exchange ratio for its acquisition of Bahrain’s Ahli United Bank (AUB). The meeting also gave the nod to a capital increase to finance the takeover, KFH Chairman Hamad Al-Marzouq said. The new exchange ratio is set at a KFH share for each 2.695 shares of Bahrain’s Ahli United Bank, he told the press, citing another agreement on a capital increase to complete the acquisition. The USD 11.6 billion merger between KFH and Bahrain’s Ahli United Bank will create the seventh largest lender by assets in the wider Gulf Arab region.(KUNA)

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