Abu Dhabi-Mubasher: First Gulf Bank (FGB) said Monday it has finalised a deal to divest its 45% equity in First Gulf Financial Services to Integrated Financial Group (IFG)

The completion of the sale deal followed a share purchase agreement signed by both parties on 2 October 2014.

The deal is in line with FGB's strategy to enhance its focus on core business areas and allows IFG to bring complementary financial products, services and advice under one roof, FGB said in a statement.

Building on synergies, the completion of the transaction will improve IFG's ability to provide a full range of bespoke capital market solutions to sophisticated investors based in the UAE, the statement said.