Bahrain's GFH postpones talks to acquire Dubai's Shuaa

Bahrain's GFH Financial Group has agreed to postpone talks to acquire Dubai-based Shuaa Capital due to both parties not reaching acquisition terms and not receiving initial regulatory approval yet

  
Image used for illustrative purpose. The Emirates Towers will house the new Area 2071 initiative at the base of the building's office tower.

Image used for illustrative purpose. The Emirates Towers will house the new Area 2071 initiative at the base of the building's office tower.

REUTERS/Ahmed Jadallah
DUBAI, June 5 (Reuters) - Bahrain's GFH Financial Group has agreed to postpone talks to acquire Dubai-based Shuaa Capital due to both parties not reaching acquisition terms and not receiving initial regulatory approval yet, it said in a bourse statement.

GFH added that its strategy to acquire financial institutions was still on track and will continue to seek strategic opportunities in the future.

GFH said in March that it had been in talks with several financial institutions, including Shuaa Capital, about potential majority stake acquisitions and mergers.



(Reporting by Tom Arnold, editing by Louise Heavens) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))






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