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Kuwait Finance House offers to acquire 100% of Ahli United Bank

Kuwait Finance House offers to acquire 100% of Ahli United Bank

Arab Finance: Bahrain’s Ahli United Bank (AUB) announced that it received an acquisition offer from Kuwait Finance House (KFH) for 100% of the bank’s shares through a share swap, according to a statement to Boursa Kuwait on July 26th.

The share swap will take place at an exchange ratio of 2.695 AUB shares for each KFH share.

KFH has received approval from the Capital Markets Authority (CMA) to increase its capital to KWD 1.342 billion from KWD 928.57 million after the finalization of the acquisition.

The capital increase will be executed through the issuance of 4.137 billion new shares at a nominal value of 100 fils per share.

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