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GFH in talks with Khaleeji Commercial Bank for voluntary takeover offer

GFH in talks with Khaleeji Commercial Bank for voluntary takeover offer
The offer is subject to the approval of all necessary regulatory
KHCB
KHCB
-100.00% 0.07 -0.07
GFH
GFH
1.64% 0.31 0.01

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.