GFH Financial Group is currently in discussions to acquire the financing and investment portfolios of Ithmaar Holding, according to a bourse filing on Monday.

The talks are “in progress” to finalise and agree on the structure and definitive documents for the acquisition, the Bahrain-based investment firm said in a disclosure on the Dubai Financial Market (DFM).

“Ithmaar is [also] in process of arranging an extraordinary general meeting for purpose of shareholders’ approvals,” the company added.

The acquisition, announced this year, is expected to have a positive impact on the company’s financials and increase the returns for the Group, GFH said.

The company, through its subsidiary GFH Partners, has recently announced it made investments worth $450 million in US real estate between the last quarter of 2023 and the first three months of 2024.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com