Thursday, Jan 10, 2013
DOHA (Zawya Dow Jones)--Bahrain's Ahli United Bank has agreed to sell most of its 33.3% stake in Qatari lender Ahli Bank to the Qatar Foundation, a statement on the Doha bourse said Thursday.
The statement issued by Ahli Bank said Ahli United Bank had agreed to sell 37,374,000 shares out of 37,375,000 from its stake in Doha-based Ahli subject to shareholder approval from the Qatar lender.
According to Zawya.com data, the Bahraini bank has a 33.3% holding in the Qatari lender.
The Qatar Foundation is chaired by the Emir's wife, Sheikha Mozah Bint Nasser Al Missned, and invests in education projects in the Middle East among other things.
Write Alex Delmar-Morgan at alex.delmar-morgan@dowjones.com
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(END) Dow Jones Newswires
10-01-13 0755GMT
