Riyadh – Mubasher: Bahrain’s Ahli United Bank (AUB), the dual-listed lender on Bahrain Bourse and Boursa Kuwait, on Monday announced taking over 59.69 million shares of Saudi-based Bank Al Jazira, or 7.28% of its shares, at a value of $173 million.

The stake acquisition was implemented through subscription to raise the Saudi bank’s capital in April, according to a bourse filing.

AUB forecast that this transaction will not impact on its financial position, Bahrain’s largest bank by assets noted.