Dubai – Mubasher: GFH Financial Group is still in talks with Khaleeji Commercial Bank (KHCB) regarding a potential voluntary takeover offer for the bank's issued shares.

The offer is subject to the approval of all necessary regulatory, board, and shareholders, according to a bourse filing on Thursday.

The discussions may or may not lead to any submission of a voluntary offer for the issued shares of KHCB.

It is noteworthy to mention that in June 2021, GFH increased its ownership in KHCB from 55.41% to 69.05% after Shuaa Capital and Goldilocks Fund had sold their stakes of 3.8% and 9.76%, respectively.