Mubasher: The board of directors of Ahli United Bank (AUB) has approved suspending all acquisition offer procedures in Kuwait and Bahrain until December 2020 in coordination with Kuwait Finance House (KFH).

The decision was subject to the Central Bank of Bahrain’s (CBB) approval in light of the ongoing unprecedented circumstances of the coronavirus (COVID-19) pandemic, AUB said in a statement to Boursa Kuwait on Sunday.  

The new agenda and associated documentation for the implementation of the acquisition offer will be announced in due course as per the CBB requirements.

Last month, KFH requested an exemption from the CBB concerning the postponement of the offer process.

Under the aforementioned deal, KFH will hold the total issued share capital of AUB.