|27 January, 2020

Ahli United Bank says no official acquisition offer made by KFH to date

The new announcement has no material impact on AUB’s financial position

A customer walks out from the main entrance to Ahli United Bank's headquarters in Manama October 30, 2013.

A customer walks out from the main entrance to Ahli United Bank's headquarters in Manama October 30, 2013.

REUTERS/Hamad I Mohammed

 Ahli United Bank (AUB) announced that no significant developments concerning the proposed takeover of the bank of by Kuwait Finance House (KFH) have taken place until the present time.

It further added that no official acquisition offer has been made by KFH to date, according to a bourse statement on Monday.

The new announcement has no material impact on AUB’s financial position, the Bahraini bank noted, adding that it will disclose any further details in due course.

Earlier this month, the ordinary general meeting (OGM) of KFH agreed to list the bank on Bahrain Bourse (BHB) following the merger as per the requirements of Bahraini monitoring authorities, with AUB’s trading on BHB representing 44% of the total trading volume.

Source: Mubasher

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