GFH announces precondition satisfaction to acquire KHCB

GFH will purchase the shares of KHCB through a shares exchange

  
A trader walks out of Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020.

A trader walks out of Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020.

REUTERS/Hamad I Mohammed
Dubai – Mubasher: GFH Financial Group has announced the satisfaction of preconditions and firm intention to make an offer to acquire up to 100% of the issued and paid-up ordinary shares of Khaleeji Commercial Bank (KHCB).

GFH will purchase the shares of KHCB through a shares exchange ratio of 0.914 GFH shares per KHCB share, according to a bourse filing on Sunday.

It is noteworthy to mention that in August 2021, GFH has submitted a letter of intent to KHCB's board for a voluntary takeover of the bank's issued shares.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities