The Gulf Hotels Group B.S.C. (GHG) has announced in a statement to Bahrain Bourse (BB) that it has submitted an initial and non-binding letter of intent to the board of directors of the Bahrain Tourism Company (BTC), dated January 25, 2015, indicating GHG’s potential interest in an acquisition of BTC’s shares through a securities exchange offer. 


It is worth noting that GHG had reported a profit growth by 17% during the first nine months of the year, ending September 30, 2014.


The Company’s capital amounts to about BHD 16.53 million, distributed on 165.3 million shares at BHD 0.1 par value each.