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GFH inks $55.21m deal on British School of Bahrain

GFH inks $55.21m deal on British School of Bahrain
This takeover is for a total value of BHD 21 million
GFH
GFH
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Mubasher: Bahrain's GFH Financial Group had signed a sale-and-leaseback agreement with Promoseven Holdings for the buildings of the British School of Bahrain (BSB), according to a bourse statement on Monday.

This takeover is for a total value of BHD 21 million ($55.21 million), as previously announced on 24 June 2017.

GFH has disclosed the bourse statement to comment on an article published in local newspapers on 26 November 2017, wherein Promoseven announced the acquisition of the BSB from GFH.

“GFH continues to be the full owner of BSB,” GFH added in the statement.