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Bahrain – Kuwait Finance Home (KFH) has moved a step nearer to buying Ahli United Financial institution (AUB) in what can be one of many greatest financial institution offers within the area.
The Kuwait-based Islamic lender issued two paperwork to Bahrain’s largest lender, which stated in a submitting to Bahrain Bourse that it obtained a discover of KFH’s agency intention to make a proposal and a proposal doc to accumulate as much as 100 per cent of the issued shares of AUB by means of share swap.
Earlier this month, AUB stated it might settle for KFH’s revised provide of 1 share for each 2.695 shares of AUB.
The banks didn’t give a price for the potential transaction however in keeping with a Bloomberg report the deal is valued at about $11.6 billion.
AUB additionally stated it has appointed Citigroup World Markets as advisor on the deal.
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