Tuesday, Aug 15, 2017
GFH Financial Group said it completed the acquisition of $1.2 billion infrastructure portfolio in Africa and Middle East.
The acquisition comes as part of GFH’s new strategy approved in the last shareholders’ Extraordinary General Meeting in March 2017 and subsequent to regulatory approvals.
The acquisition has been funded by $315 million capital increase taking GFH issued and paid up capital to $975 million. The portfolio acquired will make GFH one of the key Land Banks with more than 200 million square feet across Africa, GCC and India, the company said in an emailed statement. Staff Report Gulf News 2017. All rights reserved.