Monday, Sep 03, 2012
BEIRUT (Zawya Dow Jones)--Bahrain's Gulf Finance House, or GFH, said Monday it is conducting due diligence studies of certain asset management and real estate development companies as it looks to acquire stakes in them.
The Islamic investment bank also said that it is looking to obtain the necessary regulatory approvals to raise stakes in its affiliates and subsidiaries as well, GFH said in a statement posted on the Bahrain Bourse website.
The bank, which managed to turn around in 2011 after suffering losses in 2009 and 2010, said last month was able to restructure two debts worth a combined $155 million, according to Zawya.com data.
-By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
03-09-12 0838GMT
